Gold technical analysis 12.01.2022

The gold price reached a few points from our awaited target at 1825.15, and it shows some slight bearish bias now, affected by the negativity of the stochastic indicator, while the EMA50 provides positive support for the price to encourage us to suggest more bullish bias during the upcoming sessions, reminding you that breaching the mentioned level will push Price to 1860.00 as next positive target.

From here, the bullish trend will remain valid on the intraday basis, unless the 1797.00 level is broken and stability below it.

The expected trading range for today is between the support 1805.00 and the resistance 1835.00

The forecast trend for today: bullish