Gold price continues to oscillate around the $2325.90 mark, with recent trading sessions witnessing renewed attempts to breach this level. However, stochastic indicators are signaling negativity, indicating a potential downward momentum that could facilitate a breakthrough and drive prices towards the next correctional level at $2260.60.
Consequently, our outlook remains bearish for the foreseeable period. It is important to highlight that surpassing the resistance level at $2368.50 would negate the anticipated decline and signal a resumption of the primary bullish trend.
Anticipated Trading Range:
Support: $2305.00
Resistance: $2345.00