price shows slight negative trading heading towards our next waited target at 1297.75, which supports the continuation of the bearish trend scenario for the rest of the day, being aware that it is important to monitor the price gold behavior when reaching the targeted level, as breaking it represents the key to extend the bearish wave to reach 1249.95 direct.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price managed to breach 1324.00 level.
Expected trading range for today is between 1290.00 support and 1324.00 resistance.