Gold Price Analysis: Projected Outlook
Yesterday, gold prices resumed their upward movement, reaching the $2380.00 level. This reinforces the expectation of a continued bullish trend on an intraday basis, with the next targets set at $2400.00 and $2450.00.
The EMA50 provides underlying support, bolstering the likelihood of continued rises in the forthcoming sessions. However, the price needs to gather additional positive momentum to achieve these suggested targets. It is crucial to note that a break below $2340.10 would halt the expected rise and shift the price back into a correctional bearish trend.
Expected Trading Range
The anticipated trading range lies between a support level of $2360.00 and a resistance level of $2400.00.
Trend Forecast: Bullish
