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Gold Prices Poised for Positive Momentum

by Daisy

Expected Scenario:

Gold prices have found support around the EMA50, initiating a favorable trading stance as of today’s market open. This resurgence reinforces the likelihood of a return to the primary bullish trajectory, buoyed by evident stochastic positivity. Anticipation mounts for the attainment of positive targets, commencing at $2400.00 and extending towards the recent historical peak at $2431.44.

Consequently, a further uptick is anticipated in forthcoming sessions. It’s noteworthy that breaching the $2325.90 support level could subject the price to supplementary downward pressure, potentially leading to a retracement towards the 38.2% Fibonacci correction level, situated around $2260.60.

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Expected Trading Range:

Expectations center on a trading range bounded by support at $2325.00 and resistance at $2365.00.

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Trend Forecast: Bullish

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