The price of gold has extended its decline, testing the crucial support level at 2065.70. Notably, the price is consolidating above this support, and positive signals from the stochastic indicator are evident. The EMA50 (Exponential Moving Average) also continues to provide support from below.
Anticipating further positive movements in the upcoming sessions, initial targets involve surpassing the 2090.00 mark, strengthening the potential for an upward trajectory towards 2100.00 and then 2144.60 as the subsequent main stations. It’s worth noting that a break below 2065.70 could disrupt the anticipated rise, leading the price back into a corrective bearish track.
Today’s expected trading range is between the support level at 2055.00 and the resistance level at 2090.00.
The anticipated trend for today is bullish.