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Current Scenario:
The gold price is currently exhibiting a slight bearish bias, influenced by stochastic negativity. However, the bullish outlook remains valid as long as the price stays above $2,340.10. The next targets for the bullish trend are $2,400.00 followed by $2,450.00 levels. It’s important to observe that a breach below $2,340.10, followed by $2,317.00, would reactivate the correctional bearish scenario, subjecting the price to negative pressure with the next target at $2,272.06.
Expected Trading Range:
The anticipated trading range for gold is between a support level of $2,360.00 and a resistance level of $2,395.00.
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Trend Forecast:
The overall trend forecast for gold remains bullish.
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