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In a recent price analysis, gold faced temporary downward pressure, leading to a test of the EMA50, a significant support level at $2370.00. However, as trading resumed today, the price began to climb, buoyed by stochastic positivity. This indicates a potential continuation of the primary bullish trend, with the next major target set at $2510.00.
It’s worth noting that a breach of the $2370.00 support level could lead to additional downward pressure, potentially pushing the price to test the $2325.90 level before any significant upward movement.
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The expected trading range for today is anticipated to be between support at $2360.00 and resistance at $2400.00.
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Overall Trend Forecast: Bullish
