Closing yesterday’s session above the 1913.15 level, gold price has concretely signaled the pathway for a sustained bullish momentum, propelling it forward to achieve fresh constructive targets beginning at 1929.00 and extending to 1945.20.
As a result, the prevailing scenario of a bullish trend remains firmly intact and operational, with bolstering support emanating from the EMA50 situated beneath the price action. It is essential to recognize that a breach of the 1913.15 level would effectively curtail the anticipated upward trajectory, potentially leading to a reversion in price direction.
In the current scope, the projected trading range for today is poised to range between the support level at 1905.00 and the resistance level at 1940.00.
Projected trend for today: Bullish
