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Gold prices are currently positioned above the recently breached resistance level of the bullish channel. Stochastic indicators are gradually shedding their negative momentum, indicating potential for a positive push that could drive prices higher, with a key target of $2,700.00 in sight.
The bullish trend is expected to persist in the near term, although a break below the $2,650.00 mark would invalidate this outlook and likely trigger a bearish correction in intraday trading.
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Today’s anticipated trading range is set between a support level of $2,645.00 and a resistance level of $2,685.00.
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Trend Forecast: Bullish
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