The price of gold exhibited significant strength yesterday, surpassing the $2160.00 level to trigger a positive scenario. Today, it began with a sharp rise, surpassing the positive target of $2200.00 and reaching new historical highs at $2222.85. This upward momentum suggests the potential for continued gains in the short and medium term, with the next target set at $2235.00.
The EMA50 indicator supports the anticipated bullish trend, although there may be temporary sideways fluctuations influenced by stochastic negativity. It's important to note that breaking below $2195.00 would halt the current uptrend and potentially lead to a temporary bearish correction.
Expected Trend
Today's expected trading range spans from the support level at 2190.00 to the resistance level at 2230.00.
The expected trend for today is bullish.
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