Gold price hits the extended targets – Analysis - 30-11-2020

Gold price opened today’s trading with additional strong decline to succeed touching our waited targe tat 1765.00, facing more negative pressure that encourages us to suggest the continuation of the bearish trend in the upcoming period, paving the way to head towards 1691.85 areas as a next main station.

Therefore, the bearish trend will remain dominant on the intraday and short term basis, taking into consideration that failing to break 1765.00 will lead the price to start recovery attempts that target testing 1794.84 areas initially before any new attempt to decline.

The expected trading range for today is between 1750.00 support and 1785.00 resistance.

The expected trend for today: Bearish