The (Gold) price declined in its last intraday trading, after it opened its trading with gains couldnt keep it, to bounce back quickly and turn it to losses, this came after reaching the resistance of the EMA50, forming a dynamic barrier against the rising attempts.

This decline is caused by breaking a bullish trend line on the short-term basis, as a signal for the weakness of the bullish momentum, accompanied by the emergence of the negative signals on the (RSI), which reached exaggerated overbought level, suggesting the beginning of forming a negative divergence that reinforces the chances for the continuation of the bearish track on the near term basis.