Gold prices have successfully broken below the $2,746.00 mark, closing the daily candlestick beneath this key level. This development reinforces expectations for a continuation of the corrective bearish trend in the upcoming sessions, with a target to test $2,718.80, identified as the first negative target.
In the near term, the bearish trend is expected to persist, supported by prices remaining below the 50-day exponential moving average (EMA50). However, if gold prices breach the $2,746.00 level and hold above it, this could halt the current negative momentum and prompt a potential recovery toward regaining the main bullish trend.
For today, the anticipated trading range is projected between a support level of $2,715.00 and a resistance level of $2,750.00.
Trend Forecast: Bearish
