Gold prices are currently grappling with the 1929.00 level, showing a slight bearish bias. This resistance is being influenced by some negative momentum in the stochastic indicators, although it is worth noting that this momentum is beginning to wane. Market experts are now keeping a close eye on developments that could provide a positive catalyst to help the price overcome the 1929.00 level, with a subsequent target set at 1945.20.
However, it’s essential to maintain a watchful stance as long as the price remains above the 1913.15 level. Breaking this support level and holding below it would introduce a negative element, possibly leading to further losses, with a downside target expected at around 1875.00 levels in the short term.
For today’s trading, the anticipated trading range spans between support at 1910.00 and resistance at 1940.00. The dominant trend remains bullish, contingent on the noted support level remaining intact.
