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.
Expected Trading Range:
Support: $2370.00
Resistance: $2410.00