The upward momentum in gold prices has propelled them towards the $2355.00 mark, bolstering the outlook for further bullish movement in the short term. The next significant resistance level stands at $2364.00. However, the current negative stance of the Stochastic oscillator could lead to temporary sideways movement before the bullish trend resumes.
Conversely, a breach below $2320.00 might trigger a downtrend, potentially testing key support levels beginning at $2270.00 and possibly extending to $2242.00 before any recovery attempt.
Expected Trend
Today's expected trading range spans from the support level at 2295.00 to the resistance level at 2335.00.
The expected trend for today is bullish.
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