Overview
The gold price began to rebound bearishly after retesting 1,299.20 levels, affected by the negative signal provided by stochastic and the negative pressure coming by the EMA50. This reinforces the chances of correctional bearish trend continuation, which next target is located at 1281.17. Therefore, the bearish bias will be dominant in the upcoming sessions unless breaching and holding above 1,299.20 levels as the breach of this level will push the price to start recovery attempts that target the 1,321.49 areas initially. The expected trading range for today is between the 1,281.17 support and the 1,300.00 resistance.
