Gold prices have been trading within a tight range since yesterday, with the stochastic indicator now beginning to overlap negatively. This suggests that prices may soon resume the expected bearish trend on an intraday basis, targeting $2272.06 as the next key level.
The bearish outlook is supported by movement below the EMA50 and will remain valid as long as prices stay below $2340.10. A breach of this level could lead to a recovery and a return to the main bullish trend.
Expected Trading Range:
Between $2305.00 support and $2340.00 resistance.
Trend Forecast:
Bearish
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