Gold analysis for 03.11

Gold price resumed its negative trading to drop below the 1785.00 level and pave the way to continue the decline on the intraday term. The way is open to head towards our first awaited negative target at 1770.00, reminding you that breaking this level will push the price to 1735.00 as the next main target.

Therefore, we will continue to suggest the bearish trend for the upcoming period, provided that the price remains below 1797.00, as breaching this level will lead the price to start new recovery attempts targeting the 1825.15 areas initially.

The expected trading range for today: between the support 1760.00 and the resistance 1795.00

The forecast general trend for today: bearish