The gold price has stabilized above the 2144.60 level, with the stochastic indicator showing signs of shedding negative momentum. We anticipate a positive motive that to push the price to resume the expected bullish trend on the intraday and short-term basis, targeting levels of 2165.00 and 2200.00 as the next main stations.
Hence, the bullish trend scenario is expected to persist in the upcoming period , bolstered by support from the EMA50. However, a break below the 2144.60 level may trigger intraday bearish correction before resuming the upward trajectory.
Expected Trend
Today's expected trading range spans from the support level at 2140.00 to the resistance level at 2175.00.
The expected trend for today is bullish.
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