Gold prices experienced a bearish correction, halting precisely at the $2166.30 level. This correction accounts for the rise measured from $1984.16 to $2222.86, signaling a potential rebound towards a bullish trajectory. The upcoming movement hints at a continuation of the main bullish trend, with targets set at $2222.86, followed by $2239.00 as the next major stations.
Given these factors, a bullish bias is suggested for today’s trading activities, further supported by stochastic indicators showing a gain in positive momentum. However, it’s essential to monitor the $2166.30 level closely, as a break below it could disrupt the anticipated rise and lead to additional bearish corrections, with the next target set at $2131.70.
For today’s trading range, analysts anticipate fluctuations between the support level at $2170.00 and resistance at $2210.00.
Overall Trend Outlook: Bullish
