Overview
The gold price is testing the 1,172.68 level, which represents the first resistance barrier that keeps the bearish trend scenario valid for today, while the EMA50 keeps its negative pressure on the intraday trading. Therefore, we still expect the bearish bias in the upcoming sessions. Our main awaited target is located at 1,124.88, while achieving it conditions holding below 1,172.68 and 1,186.00 levels. The expected trading range for today is between the 1,140.00 support and the 1,186.00 resistance.
