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Gold prices have confirmed a bullish signal by surpassing the $2405.00 level, closing the daily candlestick above it. This supports expectations of a continued upward trend, with the next target levels being $2450.00 and subsequently $2483.40.
However, current Stochastic indicators are showing signs of negativity, which may introduce temporary sideways movement before the upward trend resumes. A decline below the $2396.50 level would invalidate the bullish outlook and potentially shift the trend towards a downward movement.
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Today’s expected trading range is between the support level of $2400.00 and the resistance level of $2445.00.
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Trend Forecast: Bullish
