The price of gold has found stability around $2175.00 following a recent uptick, indicating a potential continuation of the bullish trend. Analysts anticipate a push towards $2222.86 as the next significant target, supported by ongoing positive momentum, notably reinforced by the EMA50 indicator. Additionally, stochastic movement nearing oversold levels adds further credence to the upward trajectory.
Maintaining levels above $2166.50 is deemed crucial for sustaining the anticipated upward movement. Conversely, a breach below this level could signal a shift towards bearish correction, with a downside target around the $2131.70 mark.
For today’s trading activities, the projected range stands between support at $2160.00 and resistance at $2195.00.
Trend Forecast: Bullish
