Gold price tests the resistance – Analysis - 25-11-2021

Gold price shows positive trades to approach testing the key resistance 1797.00, accompanied by stochastic loss to the positive momentum and approaching the overbought areas, waiting to motivate the price to resume the negative trades that target testing 1770.00 level as a next station.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1797.00 and holding above it, as breaching this level will lead the price to start recovery attempts and visit 1825.15 areas initially.

The expected trading range for today is between 1770.00 support and 1805.00 resistance.

The expected trend for today: Bearish