Overview
The gold price confirmed a break of the 1,277.85 level after closing the daily candlestick below it, thus activating the negative effect of the triple top pattern that appears in the minor image. It places the price under temporary negative pressure that we expect to push the trading towards 1,243.17 before an attempt to regain the main bullish trend. We remind you that we are waiting for a bullish rebound after touching the mentioned target. The main positive targets are located at 1,303.58 and extend to 1,344.85. A break of the 1,243.17 level will push the price to suffer more losses than its next targets reach to 1,205.80. The expected trading range for today is between the 1,243.17 support and the 1,300.00 resistance.
