Gold declined in its last trading on the intraday levels, while gathering the gains after the previous strong rises, attempting to gain new bullish momentum that might help it recover and rise again, this decline comes amid clear attempts to offload some overbought conditions on relative strength indicators, especially with the emergence of negative signals from them.

The dynamic support remains valid with the trading above EMA50, which reinforces the stability and dominance of the main bullish trend on a short-term basis. The precious metal benefits from its trading alongside main and minor supportive lines for this trend, keeping the bullish scenario valid in the upcoming period.

therefore, we expect gold to rise in upcoming intraday trading, conditioned by the stability of $4,700 support, to target the main resistance at $4,900.

The expected trading range is between $4,700 support and $4,900 resistance.

Todays forecast: Bullish