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Gold Price Analysis: Bullish Trend Expected

by Daisy

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.

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Potential Decline

If the price falls below the $2340.10 level, it would halt the bullish trend and likely trigger a decline.

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Expected Trading Range

Support: $2340.00

Resistance: $2375.00

Trend Forecast: Bullish

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