Gold prices have recently shown slight negative movement, attempting to resume the anticipated bearish trend. The price remains under pressure from the EMA50, suggesting further downside potential. A decline toward the next key support level at $2555.00 is expected if the bearish momentum persists.
Unless gold manages to breach the $2640.00 resistance level and hold above it, the bearish outlook will remain in play.
The expected trading range for today is between support at $2605.00 and resistance at $2640.00.
Trend Forecast: Bearish
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