Gold prices are currently challenging a crucial bullish trend line on the chart, situated at $2,386.00. This development suggests a wait-and-see approach until the market confirms its position relative to this support level and determines its next direction. The divergence among technical indicators further supports maintaining a neutral stance.
A break below the $2,386.00 level could place gold prices under negative pressure, potentially driving them to test the initial corrective level at $2,324.55. Conversely, if prices hold above this trend line and surpass $2,410.00, they are likely to continue on their primary bullish trajectory, with potential gains extending from $2,450.00 to $2,483.40.
For today, the anticipated trading range is between $2,365.00 on the support side and $2,410.00 on the resistance side.
Trend Forecast: Neutral
