The (Gold) price suffered sharp losses in its last intraday trading, after breaking a minor bullish trend line on the short-term basis, opening the way towards more of the selling pressures, especially with the emergence of the negative signals on the (RSI).

This decline accelerated with breaking the support of its EMA50, to confirm the weakness of the positive momentum and ease the way towards more potential bearish moves on the near-term basis.

Therefore, our expectations suggest more of the downside movements in (Gold) prices in the upcoming intraday trading, especially if it remains stable below $3,280, to target the support at $3,210.

The expected trading range is between $3,210 support and $3,300 resistance.

Todays forecast: Bearish

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