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Gold price analysis reveals a current hovering around the $2325.90 level, with renewed attempts to breach this threshold evident at today’s market open. Stochastic indicators are signaling negative momentum, suggesting potential downward pressure that could facilitate a breakthrough below this level, aiming towards the next correctional threshold at $2260.60.
As such, our forecast maintains a bearish outlook for the immediate future. However, it’s important to note that surpassing the $2368.50 mark would disrupt the anticipated decline and potentially reignite the overarching bullish trend.
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Expected Trading Range:
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- Support: $2305.00
- Resistance: $2345.00
Trend Forecast: Bearish
