Gold prices closed last Friday on a strong positive note, reaching new historical highs. The price is starting today with a bullish bias, aiming for the $2,510.00 mark, which aligns with expectations for a resumption of the main bullish trend and the potential to achieve further positive targets in upcoming sessions. The next anticipated resistance level is $2,540.00.
The bullish trend is expected to persist on both intraday and short-term bases, supported by the EMA50, which is maintaining upward pressure. However, temporary sideways fluctuations might occur due to stochastic negativity. A drop below $2,483.40 could halt the anticipated rise and lead to a brief bearish correction.
Today’s expected trading range is between $2,485.00 (support) and $2,530.00 (resistance).
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