Overview
Gold price continues its decline to approach our main target level at $1,281.17. Please note that it is important to monitor the price until the target level is reached. In case it is broken, the metal will extend the correctional bearish wave to reach the next downward target at $1,263.15. In general, we still suggest the bearish trend for today unless the price manages to breach $1,299.20 level and hold with a daily close above it. The expected trading range for today is between $1,281.00 support and $1,305.00 resistance.
