Gold prices surged upwards, nearing the $2390.00 mark, and have initiated today with a strong bullish bias, aiming to breach the significant $2400.00 threshold. Technical indicators, particularly the stochastic, clearly indicate a robust positive momentum, bolstering expectations of a sustained bullish trend.
Supporting this optimistic outlook, the EMA50 continues to provide underlying support from below, reinforcing the positive sentiment. This bullish stance remains contingent upon prices maintaining stability above $2340.10.
For today’s trading outlook, analysts anticipate a range bound between support at $2365.00 and resistance at $2400.00.