Gold prices have effectively breached the 1975.00 level, confirmed by the closure of the daily candlestick above it. This development paves the way for continued upward movement, setting sights on positive targets beginning at 2000.00, followed by 2009.30. The prevailing bullish bias for today is substantiated by the support of the EMA50, which provides upward momentum.
It is imperative to note that the maintenance of the bullish wave necessitates holding above 1975.00, with particular emphasis on staying above 1962.35. A breach of the latter level would introduce a negative factor, potentially redirecting the price towards a correctional bearish trajectory.
The anticipated trading range for the current session is projected to oscillate between the support level at 1970.00 and the resistance level at 2005.00.
The expected trend for today is bullish, contingent upon the outlined technical considerations.
