The decline in the price of gold stopped precisely at the level of $2166.30, marking a correction from the upward movement measured between $1984.16 and $2222.86. Following this, there has been a bullish rebound indicating a potential resumption of the primary uptrend, with targets set at $2222.86 and $2239.00 as the next significant levels.
Hence, today's bias leans towards a bullish outlook, further supported by positive momentum observed in the stochastic indicator. It's important to note that a break below $2166.30 could disrupt the anticipated upward movement, leading to additional bearish correction, with a potential target around $2131.70.
Expected Trend
Today's expected trading range spans from the support level at 2170.00 to the resistance level at 2210.00.
The expected trend for today is bullish.
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