4
Gold has successfully reached its initial target at $2,675.00, with recent price movements showing an attempt to consolidate below this level, reinforcing expectations for a continued bearish trend. The price is now poised to potentially test the next support at $2,647.70 in upcoming sessions.
The EMA50 indicator continues to apply downward pressure, supporting further declines. However, if the price breaks above $2,696.85, it could signal an end to the current bearish correction and the resumption of an upward trend.
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Expected Trading Range for Today: Support at $2,650.00 and resistance at $2,685.00.
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Trend Forecast: Bearish
