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The price of gold saw a decline, touching the $2450.00 level, before initiating a bullish rebound from this support. This move signals a potential continuation of the primary bullish trend, supported by clear stochastic positivity on the four-hour time frame and bolstered by the EMA50.
Analysts suggest a bullish outlook for the near term, with the next target anticipated around $2500.00. However, a break below $2450.00 could interrupt this bullish momentum, potentially triggering an intraday bearish correction targeting support at $2410.00.
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Today’s expected trading range spans from $2450.00 support to $2490.00 resistance.
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Trend Forecast: Bullish
