Positive Movement Above $2340 Marks Potential Upswing
In recent sessions, gold prices have shown a positive trend, surpassing the $2340.10 level and closing with a daily candlestick above this mark. This indicates a potential end to the recent bearish correction and suggests a return to the main bullish trend.
Price Targets
The price is projected to target gains initially at $2410.00, followed by $2450.00. Breaking through the $2365.65 level will further support reaching these targets. However, current stochastic negativity might slow the expected bullish wave.
Potential Decline
If the price falls below the $2340.10 level, it would halt the bullish trend and likely trigger a decline.
Expected Trading Range
Support: $2340.00
Resistance: $2375.00