Gold - Technical Analysis: Tuesday, 27/06/2017 04:35 GMT

Gold price approached from our waited target at 1231.21 after the strong decline that pushed the price on yesterday, and the price moves inside minor descending channel that indicates that the price is on its way to show more decline in the coming period, to keep our negative forecast valid until now.

We should note that breaking 1231.21 will push the price to head towards 1211.37 as a next target, while surpassing 1255.77 will allow the price to return to the main bullish trend and stop the correctional bearish wave that dominates the recent trades.