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Gold Price Analysis
Expected Scenario:
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Gold prices are exhibiting calm negative trades, indicating a potential continuation of the correctional bearish trend on an intraday basis. The next target for this downward movement is $2272.06, bolstered by the negative pressure from the EMA50 indicator. However, current stochastic positivity could lead to some sideways fluctuations before the anticipated decline resumes. If the price breaches $2340.10, it will halt the bearish trend and possibly lead to a recovery, with gold attempting to regain its main bullish trend.
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Expected Trading Range:
- Support: $2295.00
- Resistance: $2335.00
Trend Forecast:
Bearish
