The price of gold has experienced a notable upward surge, rebounding clearly as it found support along the intraday bullish channel’s support line, as depicted on the chart. This resurgence signals a continuation of the anticipated bullish trajectory on an intraday basis, with positive targets set to start at 2000.00 and extend to 2009.30.
The EMA50 (Exponential Moving Average) continues to provide crucial support for the suggested bullish wave. The validity of this upward trend remains intact unless there is a breach of the 1971.00 level, followed by a drop below 1962.35.
For today’s trading, the expected range is between the support level of 1980.00 and the resistance level of 2005.00.
The prevailing trend for today remains bullish, emphasizing the positive momentum in the gold market.
