Gold Price Awaits Further Upside Movement, Bullish Trend Intact

Gold price has successfully maintained its position above the intraday resistance of the bearish channel, receiving considerable positive support from the EMA50. This sets the stage for the anticipated resumption of the bullish wave in the intraday scenario, with the next target identified at 2065.70.

Consequently, the bullish trend remains in play for the foreseeable future. A breach of the mentioned level could pave the way for additional gains, reaching up to 2100.00. Conversely, breaking 2016.90 would exert downward pressure on the price, leading it towards the next correctional target at 1977.46.

The expected trading range for today is forecasted to fluctuate between the support at 2020.00 and resistance at 2050.00.