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Gold Price Outlook: Bullish Momentum Expected to Persist

by Daisy

The gold market demonstrated significant positivity in yesterday’s trading session, surging past the critical $2325.90 threshold and securing a position above it. This notable movement effectively halted the preceding bearish correction, indicating a resurgence in the overarching bullish trajectory, with target gains ranging between $2400.00 and $2431.44.

Consequently, market sentiment leans towards a bullish bias for the current session, bolstered by the upward guidance provided by the EMA50. However, it remains crucial to acknowledge that a breach below the $2325.90 support level could invalidate the anticipated upward momentum, potentially precipitating a downturn.

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Expected Trading Range for Today:

Support: $2335.00

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Resistance: $2375.00

Trend Forecast: Bullish

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