Gold analysis for 30.11

Gold price kept its stability below 1797.00 level, and now faces a strong support line that hinders the price’s downward path. Therefore, it needs to break the 1783.0 level to open the way to our first awaited negative target at 1770.00.

In general, we continue to suggest the bearish trend for the upcoming period, as long as the price remains below 1797.00, noting that the EMA50 continues to support the expected bearish wave.

The expected trading range for today: between the support 1770.00 and the resistance 1805.00

The forecast general trend for today: bearish