Gold analysis for 23.11

Gold price settled near the level of 1800.00 after the strong decline that it witnessed yesterday, which indicates that the price is on the way to achieving more expected decline in the upcoming sessions. Exceeding this level will lead the price to visit the level of 1770.00 directly.

Therefore, the bearish bias will be likely for today. However, breaching 1825.15 will release the price from the current negative pressure and push it to start new recovery attempts, with the target areas around the 1860.00 level.

The expected trading range for today: between the support 1785.00 and the resistance 1820.00

The forecast general trend for today: bearish