Update: Gold price is recovering

Gold price rallies upwards strongly to reach the bearish channel’s resistance, which urges caution from the upcoming trading, as continuing the rise and breaching this resistance will stop the recently suggested negative scenario and lead the price to start correctional bullish wave on the intraday basis, its targets begin by visiting 1686.40 areas, while consolidating below 1656.00 will push the price to resume the main bearish trend that its next target located at 1605.00.