Gold price touches the first target – Analysis - 26-02-2021

Gold price succeeded to touch our first waited target at 1765.00 and finds good support there, noticing that the price completed forming double top pattern that its signs appear on the chart, which supports the chances of achieving more expected decline in the upcoming sessions, noting that surpassing the mentioned level will push the price to 1740.00 as a next target.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1785.00 will push the price to achieve intraday gains and test 1800.00 areas before any new attempt to decline.

The expected trading range for today is between 1750.00 support and 1785.00 resistance.

The expected trend for today: Bearish