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Gold Price Analysis: Bullish Trend Strengthened by Positive Trades

by Daisy

Gold prices exhibited positive trades in yesterday’s session, distancing itself from the crucial support level at $2325.90. This development reinforces the ongoing bullish trend, with projected targets commencing at $2400.00, followed by $2431.44.

Supporting this upward trajectory is the EMA50, bolstering the suggested bullish wave. However, there may be some sideways fluctuation influenced by stochastic negativity. Anticipating a gathering of positive momentum, investors await a push beyond $2380.00, facilitating the achievement of the awaited targets. It is noteworthy that the sustainability of the bullish trend hinges on maintaining price stability above $2325.90.

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Expected Trading Range:

Support: $2340.00

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Resistance: $2380.00

Trend Forecast: Bullish

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