Gold prices showed clear positive movement yesterday, approaching our anticipated target of $2450.00. This development reinforces expectations of a continued bullish trend in the intraday and short-term periods. The path appears open for surpassing this level, suggesting potential for further gains in the long term.
Consequently, we maintain our bullish outlook for the upcoming period, supported by the EMA50. However, caution is advised as the price nears the $2450.00 mark, which could trigger strong sell-offs and lead to sudden declines. Conversely, it is important to note that a break below $2392.00 would halt the bullish wave and subject the price to intraday negative pressure, targeting the $2340.10 area before any new positive attempt.
The expected trading range for today is between the $2415.00 support and the $2450.00 resistance.
Trend Forecast: Bullish
