Gold prices exhibited clear negative movement in the previous session, testing the $1990.00 barrier. This reinforces the expectation for the continuation of the bearish bias on the intraday basis, with anticipated targets rising to $1984.00.
A breach of the mentioned level would extend the bearish wave, targeting $1962.35 as the next significant support. However, it is crucial to consider that consolidating against the downward pressure could prompt the resumption of the primary bullish trend, with an initial target of $2009.30.
The expected trading range for the current session is between support at $1980.00 and resistance at $2005.00. The overall trend projection for today is bearish on a temporary basis. Traders are advised to closely monitor the price dynamics and consider the identified support and resistance levels in their decision-making processes.
