The (Gold) price declined in its last intraday trading, affected by the stability of the strong resistance at $3,365, which remains representing an obstacle against the upside track, the price is attempting to catch its breath and gain a new bullish momentum that might allow it to surpass this resistance in the future.
This comes amid the continuation of the dynamic support from the trading above EMA50, besides the dominance of the main bullish trend on the short-term basis, with the continuation of the trading alongside a supportive minor bias line.
Therefore, our expectations suggest a rise in the (Gold) price in its upcoming intraday trading, conditioned by the stability of the support at $3,315, targeting the resistance at $3,365 getting ready to attack it.
The expected trading range is between $3,315 support and $3,380 resistance.
Today’s forecast: Bullish