Gold Affirms Bearish Streak for fourth week

Gold price provided clear negative trades yesterday, and completed forming bearish flag pattern that its signs appear on the chart, to get negative motive that we expect to assist to push the price to achieve the waited negative targets, which start at 1770.00 and extend to 1734.00 after breaking the previous level.

The EMA50 continues to support the expected bearish trend, which will remain valid unless the price rallied to breach 1797.00 and hold above it.

The expected trading range for today is between 1755.00 support and 1795.00 resistance.

The expected trend for today: Bearish