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Gold Price Gains Momentum, Eyes $2400 Level – Forecast for July 11, 2024

by Jennifer

Today, the price of gold has shown positive movement, approaching the $2390.00 mark. The trend continues with a bullish bias, aiming to test the next significant resistance at $2400.00. Stochastic indicators indicate a clear positive momentum, reinforcing expectations for further upward movement.

Supporting this bullish outlook is the EMA50, which continues to provide crucial support from below. This reinforces the positive sentiment, contingent upon the price maintaining stability above $2340.10.

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Looking ahead, the anticipated trading range for today is expected to be between $2365.00 as support and $2400.00 as resistance.

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Trend Forecast: Bullish

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