Gold Price Analysis
Expected Scenario
- Gold price faces temporary negative pressure after testing the bullish channel’s resistance line.
- It fluctuates around the 2385.00$ level now, while the EMA50 continues to provide positive support to the price.
- This keeps the chances valid to continue the main bullish trend, with targets beginning by breaching 2431.45$ to confirm rallying towards 2510.00$.
- On the other hand, breaking 2375.00$ will put the price under negative pressure to head towards testing 2325.90$ before any attempt to resume the bullish track again.
Expected Trading Range
Between 2375.00$ support and 2425.00$ resistance.
Trend Forecast: Bullish