Gold price continues to decline calmly, organized inside the correctional bearish channel that appears on the chart, which supports the chances of achieving our main waited target at 1828.70, noting that breaking this level will extend the bearish wave to reach 1788.20 areas on the near term basis.



The EMA50 continues to support the suggested bearish wave, and the price might show some temporary sideways fluctuation until getting additional negative motive that assists to push trades to achieve the waited targets.



On the other hand, we should note that breaching 1878.80 will stop the current bearish correction and lead the price to attempt to regain the main bullish trend again, to start building bullish wave that its main targets begin by visiting 1928.60 followed by 1960.00 areas.



The expected trading range for today is between 1840.00 support and 1870.00 resistance.



The expected trend for longterm trade : Bearish

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