Gold prices are currently undergoing a test of the pivotal support at the 1913.15 level, which holds significant importance for intraday trades. The bullish scenario remains contingent on the price’s ability to maintain consolidation above this level, with a subsequent target set at 1945.20.
The support of the EMA50 is expected to contribute to the anticipated ascent. However, it is imperative to closely monitor the 1913.15 level, as a breach of this support may trigger a reversal towards negative targets, with the potential to reach the 1873.50 areas.
For today’s trading session, the projected trading range is anticipated to range from the support at 1900.00 to the resistance at 1935.00, further cementing the prevailing bullish trend for the day.
