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Gold Price Maintains its Positive Position

by Jennifer

Gold price embarked on an attempt to breach the 1913.15 level, culminating in a conclusion above this threshold by the end of last Friday. This feat sustains our optimistic perspective, bolstered by the constructive momentum exhibited by the stochastic indicator. Additionally, the support provided by the EMA50, which has elevated the price from its prior position, underpins our outlook. It is pertinent to recall that our designated targets commence at 1929.00, with an extended projection extending to 1945.20.

Conversely, it is crucial to acknowledge that a breach of the 1913.15 level would signal a cessation of the favorable scenario, inducing the price to recommence its bearish trajectory.

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The anticipated trading range for today spans between the support level of 1900.00 and the resistance level of 1935.00.

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Projected Trend for Today: Bullish

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