Gold prices trades with new negativity to attack the intraday bullish channel’s support line and attempts to hold below it, which urges caution from the upcoming trading, as confirming the break will push the price to 1945.20 before any new attempt to rise.
Now, we prefer to stay aside until we get clearer signal for the next trend, through breaking 1960.00 support or breaching 1977.25 resistance, noting that breaking this support will push the price to continue the decline for the rest of the day towards the above-mentioned support, while breaching the resistance will reactivate the bullish trend scenario that targets 2000.00 followed by 2016.90 levels mainly.
The expected trading range for today is between 1950.00 support and 1990.00 resistance.
