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Gold prices are currently fluctuating near the resistance line of a bullish channel, influenced by stochastic negativity, which is impeding further price increases. The market is awaiting a positive catalyst to drive the price upward and resume the bullish trend, with the next key target set at $2790.00.
Given current conditions, a bullish outlook is maintained for today, unless the price breaks below $2740.00 and remains under this level, which would suggest a shift in momentum.
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The expected trading range for gold today is between support at $2735.00 and resistance at $2770.00.
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