The (Gold) declined in its last intraday trading, by the stability of the main resistance at $3,400, with the negative signals on the (RSI), despite the attempts to gain positive momentum to recover and breach this resistance, amid the dominance of minor bullish wave on the short-term basis, and the positive pressure that comes from its trading above EMA50.

The (RSI) reached oversold levels, suggesting a potential bullish rebound on a near-term basis, this contradiction between the current selling pressures and the potential positive technical indicators makes $3,400 resistance represents a key level for detecting the next trend for the precious metal.

Therefore, we suggest a rise in (Gold) price in its upcoming intraday trading, by the stability of $3,360 support, to target $3,400resistance, preparing to attack it.

The expected trading range is between $3,350 support and $3,420resistance.

Today's forecast: Bullish

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