Gold prices exhibited a positive trajectory in recent trading, marking a departure from the pivotal support level of $2325.90. This upward momentum reinforces the anticipation of a sustained bullish trend, with initial targets projected at $2400.00, followed by $2431.44.
Supporting this optimistic outlook is the EMA50 indicator, lending strength to the envisaged bullish wave. However, it’s worth noting potential sideways fluctuations influenced by stochastic negativity. Yet, the outlook remains optimistic, with an expectation of gaining positive momentum to breach the $2380.00 mark. This breakthrough would facilitate the realization of awaited targets. It’s essential to underscore that the continuation of this bullish trajectory hinges on maintaining price stability above $2325.90.
In terms of anticipated trading range, support is anticipated at $2340.00, with resistance positioned at $2380.00.