Gold price opened today’s trading with an additional strong decline, to succeed in touching our awaited target at 1765.00, and face more negative pressure that encourages us to favor the continuation of the downside movement during the coming period, paving the way for heading towards 1691.85 areas as a next major station.
Consequently, the bearish trend will remain dominant in the intraday and short term, taking into account that failure to break 1765.00 will lead the price to start recovery attempts targeting the initial testing of 1794.84 areas before any new attempt to decline.
The expected trading range for today is between 1750.00 support and 1785.00 resistance
The expected general trend for today: Bearish
