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Gold Price Reaches Key Support Line

by Jennifer

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

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