Gold price shows sideways trading since morning settled below the bullish channel’s support, keeping the bearish trend scenario active for today, reminding you that we are waiting for visiting 1316.48 as a next main station, supported by the negative pressure that formed by the EMA50.
Note that breaking the targeted level will push the price to 1301.20 on the near term basis, while the decline will remain valid conditioned by holding below 1335.40.
Expected trading range for today is between 1310.00 support and 1335.00 resistance.
Expected trend for today: Bearish