The price of gold has stabilized around the 2160.00 level following a recent decline in previous sessions. Observing that the stochastic indicator is beginning to exhibit positive overlap, analysts anticipate this development to serve as a catalyst for the resumption of the expected bullish trend in both intraday and short-term trading. The next target for this upward movement is set at the 2200.00 level.
The sustainability of this bullish momentum hinges upon maintaining stability above the crucial support level at 2145.35. A breach of this support level is deemed pivotal, as it could signal the initiation of a bearish correction aiming towards the 2114.55 price zone as an initial downward target.
Today’s anticipated trading range is expected to fluctuate between the support level at 2145.00 and the resistance level at 2180.00.
Trend Forecast: Bullish
