Gold price settles negatively – Analysis - 11-10-2021

Gold price ended last Friday negatively below 1770.00 level, after the positive attempts that it witnessed in the previous sessions, which keeps the bearish trend scenario valid and active for the upcoming period, and the price needs to break 1757.00 to reinforce the continuation of the decline towards 1735.00 as a first negative station.

Therefore, we are waiting for additional decline on the intraday basis, noting that breaching 1770.00 followed by 1780.00 levels will stop the suggested negative scenario and lead the price to turn to rise.

The expected trading range for today is between 1735.00 support and 1770.00 resistance.

The expected trend for today: Bearish