Gold crashed from 1827, next move lower in sight

Gold price closed yesterday below 1797.00 level, which supports the chances of continuing the decline in the upcoming sessions, to head towards achieving additional negative targets that reach 1770.00, supported by the negative pressure formed by the EMA50.

Therefore, we expect to witness more decline on the intraday basis, taking into consideration that failing to confirm breaking 1797.00 will lead the price to start recovery attempts that target testing 1825.15 areas initially.

The expected trading range for today is between 1770.00 support and 1810.00 resistance.

The expected trend for today: Bearish