The gold price encountered strong resistance at the historical peak of 2144.60, signaling a bearish rebound after the weak positive momentum and failing to a breach. This suggests a potential downturn in upcoming sessions, with initial downside targets set at 2104.20 followed by 2081.25 levels.
Hence, a bearish outlook is anticipated for today, supported by stochastic negativity. It's worth noting that surpassing 2144.60 will stop the suggested decline, lead the price to resume the main bullish trend and achieve new gains towards 2165.00.
Expected Trend
Today's expected trading range spans from the support level at 2105.00 to the resistance level at 2140.00.
The expected trend for today is bearish.
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