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Gold prices experienced significant negative pressure yesterday, leading to a bearish correction following the recent rise. However, the market opens today with a bullish bias, suggesting a possible resumption of the primary bullish trend, driven by positive stochastic indicators.
In the upcoming sessions, we anticipate positive trading, supported by the EMA50. Initial targets are set at $2760.00, followed by $2775.00. It’s important to note that if prices fail to maintain consolidation above $2722.00, we could see additional bearish corrections, with a potential target of $2700.00.
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The expected trading range for today is between $2710.00 support and $2745.00 resistance, with an overall trend forecast indicating bullish momentum.
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