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Gold price is currently positioned at the support line of the bullish channel visible on the chart. Following the established trading rules within channels, there is an anticipation of a bullish rebound, initiating an intraday bullish wave with an initial target set at 2009.30.
Today’s outlook favors a bullish bias, further supported by positive signals from technical indicators. It’s essential to note that a breach below 1990.00 would subject the price to renewed negative pressure, directing it towards the testing of 1962.35 levels before any subsequent attempt at an upward movement.
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The expected trading range for today is poised between 1980.00 (support) and 2005.00 (resistance).
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Today’s Trend Projection: Bullish
