Gold resumed its upward trajectory yesterday, reaching the $2,380.00 level and reinforcing expectations of a continued bullish trend in the short term. The next targets are set at $2,400.00 and $2,450.00.
The EMA50 indicator supports the price from below, bolstering the outlook for a continued rise in the upcoming sessions. For the bullish trend to persist, the price needs to gather positive momentum to push towards the suggested targets. However, it is important to note that if the price breaks below $2,340.10, it will halt the expected rise and may push the price back onto a correctional bearish track.
Expected Trading Range
Support: $2,360.00
Resistance: $2,400.00
Trend Forecast: Bullish