The gold price has recently tested a crucial support level at 2145.35 but has so far been unable to breach it. As previously mentioned, this level is significant as it represents one of the key indicators for the next trend, alongside the resistance at 2170.40. Either surpassing one of these levels will provide clarity regarding the next direction of the price movement.
Given this, we maintain a neutral stance for now. It's important to note that breaking the support level could lead to a bearish correction, with the next target being 2114.55. Conversely, surpassing the resistance level would indicate a continuation of the main bullish trend, with an initial target of 2200.00.
Expected Trend
Today's expected trading range spans from the support level at 2135.00 to the resistance level at 2170.00.
The expected trend for today is Neutral.
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