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Gold prices peaked at $2,526.90, forming a lower high before beginning a decline at the start of today’s trading session. This technical pattern suggests a bearish trend may be developing, with prices potentially falling further.
The immediate support level to watch is $2,483.40. Should gold prices break below this level, further losses could push the price down to around $2,435.00.
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Today’s trading outlook leans bearish, though a break above $2,526.00 could invalidate the negative forecast and lead prices to resume their previous upward trajectory.
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The anticipated trading range for today is between $2,485.00 on the support side and $2,525.00 on the resistance side.
Trend Forecast: Bearish
