The gold price shows some upward tendency to test the first pivot resistance 1316.48, where the price is positively influenced by the stokastic index, noting that the average mobile 50 meets with the resistance mentioned to add more power to it, which keeps the downward trend scenario still in place.
Therefore, we will keep our expectations of the downward trend unless the levels of 1316.48 and 1322.00 are compromised and sustained above them, with the reminder that our next main target is at 1301.20.
Expected trading range for today between support 1290.00 and resistance 1325.00