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Gold Prices Resume Uptrend in Bullish Channel

by Jennifer

In today’s trading, the price of gold displays renewed optimism as it returns to the primary bullish channel depicted on the chart. This resurgence supports the ongoing anticipated bullish trend in the short-term, paving the way for potential new gains starting at 2100.00 and extending towards the recent peak of 2144.60.

It is crucial to note that the current bullish momentum is influenced by the previously completed double bottom pattern, adding strength to the prospects of a sustained upward movement in the sessions to come.

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For the bullish scenario to remain in force, it is essential to monitor the level of 2065.70. The trend will stay valid and active as long as the price remains above this key level.

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Looking ahead, the anticipated trading range for the day is expected to fluctuate between the support level of 2075.00 and the resistance level of 2105.00.

In conclusion, the overall trend for today remains bullish, reflecting a positive sentiment in the gold market.

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