Gold Closed Below 1797 Resistance, Downside Likely 1780-1770

Gold price ended last Friday below 1797 level, which puts the price under expected negative pressure in the upcoming sessions, supported by the EMA50, waiting to visit 1780 as a first station and may extend to 1770.

Therefore, the bearish bias will be expected on the intraday basis, taking into consideration that breaching 1797 and holding above it will lead the price to recover again and head towards 1805, 1815 and extend to 1825 mainly.

The expected trading range for today is between 1770 support and 1805 resistance.

The expected trend for today: Bearish