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Gold prices surged significantly yesterday, surpassing the initially anticipated target of $2,400.00 and closing the daily candlestick above this level. This breakout confirms the ongoing bullish trend and sets the stage for a potential move towards the historical high of $2,450.00.
Looking ahead, further gains are expected in both the intraday and short-term horizons, bolstered by support from the EMA50. However, should the price drop below $2,400.00, we may see a temporary decline, with potential support around $2,340.10 before any renewed upward momentum.
For today, the anticipated trading range is between $2,395.00 on the support side and $2,435.00 on the resistance side.
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