Gold price is testing the key resistance 2394.00$, and the EMA50 meets this resistance to add more strength to it, besides the negative signals provided by stochastic, which might push the price to decline and test the main support that rises now to 2366.40$, to keep the price confined between these levels and continue with our neutrality until the price manages to surpass one of them to detect the next destination clearly.
Note that breaching the mentioned resistance will cancel the previously completed double top pattern and lead the price to resume the main bullish trend again, to head towards achieving gains that start at 2450.00$ and extend to 2483.40$, while breaking the support represents the key to achieve bearish correction that its targets begin at 2324.55$.
The expected trading range for today is between 2375.00$ support and 2415.00$ resistance.
Trend forecast: Neutral
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