Gold prices are exhibiting modest upward movement, aiming to distance themselves from the $2016.90 level. The precious metal continues to receive consistent support from the 50-day Exponential Moving Average (EMA50), indicating a potential shift towards higher values. The market is awaiting robust positive momentum to propel prices further, with a primary target set at the $2065.70 level.
The current bullish trend remains valid and active, emphasizing the potential for additional gains in the upcoming period. It’s crucial to monitor the $2016.90 level, as a breach would halt the anticipated upward movement, potentially leading to a new bearish correction.
Today’s projected trading range is anticipated to fluctuate between support at $2010.00 and resistance at $2045.00.
Anticipated Trend for Today: Bullish
