The price of gold hovers around the $2350.00 level, signaling an effort to amass positive momentum across intraday time frames. This development bolsters the prospects of resuming the primary bullish trend within the intraday scope. To solidify this trajectory, the price must breach the $2364.00 mark, affirming the potential for a rally towards the $2400.00 threshold, representing the next positive target.
Anticipations lean towards witnessing favorable trades in forthcoming sessions. It’s noteworthy that a breach below $2338.00 would halt the anticipated ascent, potentially prompting the price to establish a bearish wave targeting a test of the bullish channel’s support line, situated around $2253.00, before any renewed attempts to rise.
Today’s projected trading range spans between the support level at $2340.00 and resistance at $2375.00.
Trend Forecast: Bullish
