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Gold prices have continued their decline, breaking below the $2,450 mark and settling beneath it. This signals the start of a bearish correction following the recent bullish trend. The next anticipated support level is $2,410.90, with a breach of this level likely to result in further losses, potentially down to $2,390.00 and possibly extending to $2,366.10.
Given this scenario, a bearish outlook is suggested for today. However, if gold prices manage to breach the $2,438.60 level, the anticipated decline will be halted, and the price may resume its main bullish trend.
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The expected trading range for today is between the support level of $2,405.00 and the resistance level of $2,445.00.
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Trend Forecast: Bearish
