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Gold prices have shown little movement in recent sessions, continuing to fluctuate within a tight range around the 50-day Exponential Moving Average (EMA50). As a result, the bearish trend scenario remains unchanged, targeting $2272.06 as the next main level.
It is important to note that breaching the $2340.10 mark would halt the expected decline. Such a breakthrough could lead to a recovery in prices, with potential gains starting at $2365.00 and extending to the $2400.00 area.
Expected Trading Range
The anticipated trading range for today is between $2305.00 support and $2345.00 resistance.
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Gold Price Analysis: Sideways Movement with Bearish Bias Continues