Gold prices continue to hover around the key bullish trend line, currently positioned at $2,390.00. The price action is influenced by conflicting signals: the 50-day exponential moving average (EMA50) exerts a negative pressure, while stochastic indicators show positive momentum. This divergence maintains our neutral stance as we await definitive signals for the next trend movement.
A decisive break below the $2,380.00 level would introduce negative pressure, with potential downside targets initially reaching the $2,324.55 region. Conversely, a breakout above the $2,405.00 resistance could confirm a resumption of the main bullish trend, with gains projected to begin at $2,450.00 and potentially extend to $2,483.40.
For today, the expected trading range is between $2,370.00 support and $2,410.00 resistance.
Trend Forecast: Neutral
