254
As of February 8, 2024, gold price persists in its oscillation around the EMA50. Notably, stochastic indicators are displaying a clear accumulation of positive momentum, hinting at a potential continuation of the upward trajectory towards the next major target at 2065.70.
Consequently, the intraday bullish trend remains our focal point, with a pivotal condition being the preservation of the 2016.90 support level. A breach of this level would prompt the price to undergo additional bearish correction, with a downward trajectory targeting 1977.46 before any resurgence.
Advertisements
The anticipated trading range for the day is expected to fluctuate between the support level of 2020.00 and the resistance level of 2055.00.
Advertisements
Projected Trend for Today: Bullish
