Gold analysis for 12.11

Gold price starts today’s trading with a slight bearish tendency to move below 1860.00. However, we will rely on the daily closing above this level that the price achieved. Therefore, we continue suggesting the bullish trend for the upcoming period, with the price heading towards the 1900.00 level mainly.

The EMA50 supports the suggested ascending wave, noting that the failure to consolidate above 1860.00 will lead the price to an additional decline and to testing the 1825.15 areas before any new attempt to rise.

The expected trading range for today: between the support 1840.00 and the resistance 1875.00

The forecast trend for today: bullish