Gold price remains caught between key support at $2145.35 and a declining resistance line currently situated around $2160.00. This situation maintains the neutrality of the market, with technical factors presenting a contradiction and signaling the need for a clearer indication of the next trend.
The ongoing fluctuation underscores the importance of surpassing one of the mentioned levels to provide clarity on the market direction. A breakthrough above the resistance level would likely prompt a resumption of the main bullish trend, with the next target set around the $2200.00 mark. Conversely, a breach of the support level would signal the onset of a bearish correction, with the next target identified at $2114.55.
For today’s trading, the anticipated range is expected to fall between the support level of $2140.00 and the resistance level of $2180.00.
In summary, the trend forecast for gold price remains neutral as traders await a confirmation signal to determine the next directional move, with technical indicators playing a crucial role in shaping market sentiment.
