Gold price under the negative pressure – Analysis - 01-07-2019

Gold price opened today’s trading with strong bearish gap to break 1400.00 level and settles below it, as it completed forming double top pattern that its signs appear on the chart, which puts the price under the correctional bearish pressure again, on its way to visit 1376.30 level initially.

Therefore, the bearish bias will be expected for today unless the price managed to breach 1400.00 and hold above it again, noting that surpassing the targeted level will extend the correctional bearish wave to reach 1357.00 as a next station.

The expected trading range for today is between 1376.00 support and 1400.00 resistance.

The expected trend for today: Bearish