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Gold prices have found solid support at the $2,675.00 level and are showing a slight bullish bias, influenced by positive signals from the stochastic indicator. However, the overall outlook remains bearish. This is due to the price having recently broken the support line of the bullish channel, which suggests further downside potential. The next target for gold is at $2,600.00.
For the bearish trend to remain intact, gold must stay below the key resistance levels at $2,696.85 and $2,718.80.
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The expected trading range for today is between support at $2,630.00 and resistance at $2,675.00.
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Trend Outlook: Bearish
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