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Analysis of the gold price reveals its settlement above the $2166.50 level, thereby maintaining the anticipated bullish trend scenario on an intraday basis. Support is provided by the EMA50 from below, reinforcing expectations for an upward movement.
However, to resume the bullish wave and achieve the awaited targets, the price requires positive momentum. A breach below $2166.50 may interrupt the bullish trend, potentially leading to additional bearish correction targeting areas around $2131.70 directly.
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Expected Trading Range for Today:
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Support: $2160.00
Resistance: $2190.00
Trend Forecast: Bullish
