Gold price begins to rebound bearishly after testing the bearish channel’s resistance, to keep the bearish trend scenario active for today, depending on the price stability below 1199.00 level, and the price needs to surpass the EMA50 to ease the mission of heading towards our waited targets that begin at 1182.00 followed by 1173.00, noting that stochastic still negative and supports the expectations to decline.
Expected trading range for today is between 1180.00 support and 1200.00 resistance.
Expected trend for today: Bearish