After nearing the crucial support level at $2222.86, the gold price has begun to rise again. To strengthen the outlook for further bullish movement within the established bullish channel, it must surpass the significant resistance level at $2260.00. This scenario increases the likelihood of targeting $2300.00 as the next positive target.
Our recommendation remains bullish for the upcoming period. However, a breach of $2222.86, followed by $2202.00, will halt the bullish momentum and prompt a bearish correction on an intraday basis.
Expected Trend
Today's expected trading range spans from the support level at 2235.00 to the resistance level at 2270.00.
The expected trend for today is bullish.
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