The gold price executed a vigorous ascent in the previous trading session, successfully breaching the initial target at 1929.00. This pivotal achievement not only validates the attainment of the milestone but also clears a path for the pursuit of further gains. The forthcoming trajectory anticipates a progression towards the subsequent key target of 1945.20.
The ongoing potency of the double bottom pattern persists, serving as a reinforcing factor that contributes to the continuity of the upward movement. It is worth noting that a breach of the 1929.00 level could impose negative pressure on the price, potentially instigating a retreat towards the intraday trades’ most vital support at 1913.15. The determination of the ensuing trend is contingent upon this juncture.
Today’s envisaged trading scope extends between the support level of 1925.00 and the resistance level of 1950.00.
The projected trend for today remains bullish.
