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Gold prices opened today with a positive trend, reaching the anticipated target of $2,600. Analysts predict the momentum will continue, pushing towards the key resistance level of $2,634.50, which marks the upper boundary of the current bullish channel. This sustained upward movement reinforces the bullish outlook for the near future.
Support for this bullish wave is provided by the 50-day exponential moving average (EMA). However, should prices fall below the $2,550 mark, it could trigger a bearish correction, potentially leading to a temporary decline before the upward trajectory resumes.
For today, the trading range is projected to be between a support level of $2,580 and a resistance level of $2,615.
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