Gold prices are currently leveraging the EMA50 support level, initiating a bullish rebound and bolstering prospects for a resumption of the anticipated upward trajectory in the short-term. Analysts foresee a potential target of $2400.00 as the next pivotal threshold.
Key to achieving this bullish objective is a breach of the $2380.00 mark, which would facilitate progress towards the suggested target. Conversely, a drop below $2340.10 would derail the current bullish momentum, redirecting the price towards corrective bearish trends and potentially testing $2272.06 as the next significant downside level.
Today’s anticipated trading range is forecasted between support at $2350.00 and resistance at $2390.00, underscoring current market volatility amid bullish sentiment.
Trend Outlook: Bullish