Gold price rises again – Analysis - 07-12-2018

Gold price begins today’s trading with new rise to move above 1238.30 level, but it closed yesterday’s candlestick below this level too, which keeps the chances valid to continue the expected bearish trend scenario on the intraday basis, waiting to target 1208.40 level mainly.

We remind you that breaking 1230.00 will ease the mission of achieving the mentioned target, while holding above 1238.30 will stop the negative scenario and lead the price to head towards 1262.51 as a next main station.

Expected trading range for today is between 1220.00 support and 1250.00 resistance.

Expected trend for today: Bearish