Gold price stops the bearish correction – Analysis - 14-12-2023

Gold price rallied upwards strongly to breach 2016.90 level and settles above it, attempting to return to the bullish channel that appears on the chart, to hint stopping the bearish correction that dominated the recent trades and head towards regaining the main bullish trend again, on its way to achieve additional gains that reach 2065.70 as a next main station.

Therefore, the bullish bias will be suggested for today, it might be preceded by some sideways fluctuation affected by stochastic negativity, noting that breaking 2016.90 will stop the expected rise and push the price to return to the correctional bearish track.

The expected trading range for today is between 2020.00 support and 2055.00 resistance.

The expected trend for today: Bullish