Gold prices have exhibited relatively stable trading patterns this morning, with the metal hovering around the 1820.00 level. It’s worth noting that the stochastic indicator continues to lose its positive momentum, which could potentially prompt a resumption of the anticipated bearish trend for today. The initial targets for this trend start at 1809.35 and may extend to 1765.20 if the previous level is breached.
However, it’s essential to keep in mind that a breach of the 1838.35 level could disrupt the anticipated decline and lead to attempts at an intraday recovery.
The expected trading range for today is expected to be between the support level at 1800.00 and the resistance level at 1838.00.
The prevailing trend for today is expected to be bearish.
Please note that this analysis is based on technical factors, and actual market conditions may vary. Traders should exercise caution and consider multiple factors before making trading decisions.
