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Gold prices are currently fluctuating around the $2,615.00 level, reflecting the negative impact of a previously completed double top pattern. The market is poised to resume its bearish trend, with a critical level to watch at $2,603.87. A break below this support would confirm a downward movement toward the next significant target of $2,578.65.
Overall, the bearish trend is expected to persist unless the price manages to breach the $2,635.06 level and maintain trading above it.
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Today’s anticipated trading range is between a support level of $2,595.00 and a resistance level of $2,635.00.
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Trend Forecast: Bearish
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