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Gold Price Bullish Trend Persists with Eyes Set on $2400 Target

by Daisy

Gold price exhibits a pronounced bullish bias, nearing the anticipated target of $2400, with a slight impediment posed by stochastic negativity hindering further ascent. Awaited positive momentum is anticipated to propel the price beyond the aforementioned level, targeting the next threshold at $2431.44.

The bullish trajectory is underpinned by the supportive stance of the EMA50, indicating a continued upward trend in the forthcoming period. However, a breach of the $2325.90 level would signal a cessation of the bullish momentum, prompting a return to a corrective bearish trajectory.

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Expected Trading Range:

Support: $2370.00

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Resistance: $2410.00

Trend Forecast: Bullish

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