The price of gold concluded the previous session below the 1962.35 level, signaling a return to the corrective bearish trajectory. This move followed a retest of the previously breached neckline of the double top pattern evident on the chart. The next anticipated move for gold is a descent towards the 1933.30 level.
The current outlook suggests a likelihood of negative trades in the upcoming sessions. It is noteworthy that breaching the 1962.35 level could prompt the price to attempt a recovery, targeting gains that commence with a test of 1975.00 and potentially extending to 2000.00 after surpassing the aforementioned level.
The expected trading range for today is set between the support at 1940.00 and resistance at 1975.00.
Anticipated Trend for Today: Bearish
