Gold price is currently hovering around the $1977.25 support level. It has exhibited positive movements, surpassing this level. Additionally, technical indicators are providing positive signals, increasing the likelihood of further gains in the upcoming sessions.
As a result, we maintain our bullish outlook for both the intraday and short-term scenarios, with a target set at $2016.90 as the next significant resistance level. However, it is crucial to note that failure to maintain a price level above $1977.25 could lead to a reversal and a descent toward the $1945.20 price zone before a potential rebound.
For today, the expected trading range is between the support level at $1965.00 and the resistance level at $2000.00. The overall expected trend for today is bullish.
