Daily analysis of Gold for December 19, 2017

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Overview

The Gold price tested 1,263.15 level. The metal still closes below it on a daily basis, accompanied by stochastic which is reaching the overbought areas now. The chances are still valid to resume the bearish bias in the upcoming sessions. We are waiting until the 1,240.85 level is visited. Therefore, the bearish trend will remain active for today. Let me remind you that breaking the target level will extend price losses to reach 1,204.81 while breaching 1,263.15 represents the first positive key for the price to return to the main bullish track again. The expected trading range for today is between 1,245.00 support and 1,270.00 resistance.

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