Gold prices continued to exhibit stability on July 2, 2024, fluctuating within a sideways track and remaining below the $2,340.10 level. This stability maintains the bearish trend scenario, which is supported by a gradual loss of positive momentum indicated by stochastic analysis. The forecast suggests a continuation of the bearish wave, targeting $2,272.06 as the next significant level.
However, if the price breaches the $2,340.10 mark and sustains above it, a bullish trend may emerge. This potential rise could lead to gains, with initial targets set at $2,370.00, potentially extending to $2,400.00.
Expected Trading Range:
Support: $2,310.00
Resistance: $2,345.00