In yesterday’s trading session, the gold price showcased significant positivity, surpassing the critical level of $2325.90 and settling above it. This movement effectively halted the preceding bearish correctional trend, signaling a resumption of the primary bullish trajectory. The projected gains are expected to range between $2400.00 and $2431.44.
For today’s trading, a bullish bias is foreseen, supported by the EMA50, which currently provides guidance to the price action from below. It is imperative to acknowledge that a breach below the $2325.90 level could invalidate the anticipated upward movement, potentially leading to a reversal.
The expected trading range for today is anticipated to fluctuate between the support level at $2335.00 and the resistance level at $2375.00.
Trend Forecast: Bullish
