Midday update for Gold 23-11-2023

Gold price shows negative trades now in attempt to reach our waited target at the bullish channel’s support line, located now at 1984.00, to keep the bearish trend valid on the intraday basis, being aware that it is important to monitor the price when reaching the mentioned level due to its importance to detect the next trend, as breaking it represents the key to extend the bearish wave towards 1962.35, while consolidating above it will push the price to rise again and visit 2009.30 as a first positive station.

The expected trading range for today is between 1980.00 support and 2005.00 resistance.

The expected trend for today: Bearish temporarily