Gold price touches the target – Analysis - 12-11-2018

Gold price settles at 1208.40 level, and we notice that the price completed forming double top pattern that appears on the chart, which supports the chances of extending the bearish wave on the short term basis, noting that breaking 1208.40 followed by 1198.00 levels will confirm opening the way to target 1180.00 areas in the upcoming sessions.

Therefore, we will continue to suggest the bearish trend for today unless breaching 1223.00 level and holding above it.

Expected trading range for today is between 1190.00 support and 1223.00 resistance.

Expected trend for today: Bearish