Gold price begins positively – Analysis - 24-12-2018

Gold price opens today’s trading with clear rise to move above 1262.51, but it’s still below the correctional bullish channel’s resistance, accompanied by stochastic beginning to lose the positive momentum, which supports the chances of bouncing bearishly to resume the recently suggested bearish trend.

Therefore, we will continue to suggest the bearish bias in the upcoming sessions unless breaching 1269.00 level and holding above it, reminding you that our main waited target is located at 1238.30.

Expected trading range for today is between 1240.00 support and 1275.00 resistance.

Expected trend for today: Bearish