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Gold prices have shown positive momentum in recent sessions, nearing the initial target of $2,668.00. Analysts anticipate further increases as the precious metal aims to test the recently recorded high of $2,685.50. However, current stochastic indicators suggest potential resistance, which may lead to temporary sideways movement before continuing on an upward trajectory.
Maintaining a price level above $2,635.06 is crucial for sustaining the anticipated upward trend. A drop below this threshold could trigger a bearish correction, with the next support target set at $2,603.90.
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For today, market expectations indicate a trading range between a support level of $2,640.00 and a resistance level of $2,675.00.
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Trend Forecast: Bullish
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