Gold price has exhibited clear positivity since the opening today, aiming to challenge the $2400.00 barrier. This reinforces expectations of the ongoing bullish trend, with further upward movement anticipated to surpass $2431.45. Upon breaching this level, the bullish momentum is likely to extend towards the next significant target at $2510.00.
The Exponential Moving Average (EMA50) continues to provide support for the bullish trajectory, which remains well-defined within the confines of the upward channel visible on the chart. It’s worth noting that a break below $2375.00 would halt the anticipated upward movement, potentially triggering a test of the key support level at $2325.90 before any renewed attempts to push higher.
Expected Trading Range: $2375.00 (Support) – $2425.00 (Resistance)
Trend Forecast: Bullish
