Gold Analysis 01.10.2021

The rise in gold price stopped at the level of 1765.00, and it begins to provide bearish rebound signals after reaching the descending channel’s resistance that appears on the image, motivated by the negative signals that appear through the stochastic indicator, which makes us likely to witness negative trades in the upcoming sessions, and the targets start by testing the 1735.00 level from new.

Stability below 1770.00 is important for the continuation of the expected decline, as breaching it will lead the price to exit from the current bearish path and then turn to the upside on the intraday and short term basis.

The expected trading range for today is between the support 1735.00 and the resistance 1770.00

The forecast general trend for today: Bearish