Gold prices experienced clear negative pressure in previous sessions, testing the EMA50, which provided solid support. The price has begun to rise again and is on track to test $2483.40, our initial target. A break above this level could lead to a direct move toward $2500.00.
We maintain a bullish outlook for the upcoming period, but note that a break below $2420.00 would halt the anticipated rise and subject the price to negative pressure, targeting $2385.00 initially, and potentially extending to $2324.55 if the previous level is broken.
Expected Trend
Today's expected trading range is between the $2430.00 support and $2470.00 resistance.
Trend Forecast: Bullish
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