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Gold prices have settled above the recently breached resistance level of a bullish channel. Observations indicate that the stochastic indicator is gradually overcoming its negative momentum, suggesting a potential for upward movement in the near future. Analysts anticipate that prices may rise further, with the next significant target set at $2,700.00.
In light of this, a bullish trend is expected in the upcoming period. However, a break below $2,650.00 could halt the anticipated rise, leading to potential intraday bearish corrections.
Today’s expected trading range is between a support level of $2,645.00 and a resistance level of $2,685.00.
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