The price of gold is currently demonstrating new positive movements, having recently found support around the 2009.30 level in prior sessions. This reinforces the continuation of the established bullish trend, characterized by well-defined bullish channels on the chart. The upcoming sessions are expected to maintain this upward trajectory, with the next target identified at 2030.00.
While the stochastic indicator currently exhibits some negativity, there might be a brief period of sideways fluctuation until positive momentum is regained. This positive momentum is anticipated to facilitate the resumption of the suggested bullish wave. The validity of this bullish outlook remains intact unless the price breaches the support levels at 2009.30, followed by 2003.40, and remains below them.
For today’s trading, the projected range is between the support at 2000.00 and the resistance at 2035.00. Traders are advised to closely monitor these levels for potential market movements.
Expected Trend for Today: Bullish
