The price of gold has settled around $2040.00 following a recent surge, signaling anticipation for further bullish momentum targeting $2065.70 as the next significant objective. This positive trajectory keeps the bullish trend scenario intact for the near future.
The Exponential Moving Average (EMA50) continues to provide support for the anticipated bullish wave. For sustained positive momentum and a continuation of the upward trend, the price requires favorable conditions to reach the mentioned target. It’s crucial to monitor the $2016.90 level, as a breach could halt the bullish trend, prompting a return to a corrective bearish trajectory.
Today’s expected trading range is between support at $2025.00 and resistance at $2060.00. The overall outlook for the day remains bullish.
