The price of gold has successfully breached the 1873.50 level and concluded the daily candlestick above this mark. This confirmation validates the continued dominance of the bullish trend, with the path now open to advance towards our subsequent positive target at 1913.15.
Given these circumstances, we maintain our recommendation of a bullish trend for the upcoming period, significantly supported by the EMA50. It is important to note that stochastic’s current negativity might induce some short-term sideways fluctuations before the anticipated upswing resumes. However, it is crucial to consider that any breach below 1873.50 could impede the positive scenario and redirect the price towards a decline.
The anticipated trading range for today falls between the support level at 1865.00 and the resistance level at 1900.00. The expected trend for today is bullish.
