Gold prices have remained steady below the $2325.90 mark, signaling a continuation of the corrective bearish trend in current trading sessions. The next anticipated target lies at $2260.60.
The Exponential Moving Average 50 (EMA50) continues to apply downward pressure on the price, reinforcing the bearish sentiment. However, breaching the $2325.90 threshold could prompt recovery efforts aiming for the range between $2360.00 and $2430.00.
Yesterday saw no significant movement in gold prices, with the metal maintaining stability below $2325.90. Consequently, the corrective bearish scenario remains active, with the next target set at $2260.60.
The persistent negative influence of the EMA50 further supports expectations of a decline. Nevertheless, surpassing the $2325.90 mark would likely initiate recovery attempts, potentially restoring the primary bullish trend and targeting gains within the $2360.00 to $2430.00 range.
Expected Trading Range and Trend Forecast
Support: $2290.00
Resistance: $2330.00
Trend Forecast: Bearish
