Gold price presses negatively on the bullish channel’s support line to move below it now, reinforced by stochastic negativity that appears on the four hours’ time frame, to keep the bearish trend active for the rest of the day, depending on the price stability below 1208.40 and 1212.00 levels, reminding you that our next main target is located at 1180.00.
Expected trading range for today is between 1180.00 support and 1212.00 resistance.
Expected trend for today: Bearish