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Gold prices halted their decline at $2,470.00, with the daily candlestick closing above $2,483.40. This suggests the potential for positive trading as the market opens today, indicating a possible resumption of the bullish trend. If prices exceed the $2,500.00 barrier, they could advance towards $2,540.00.
The 50-period Exponential Moving Average (EMA50) aligns with the $2,483.40 level, reinforcing its significance. Positive signals from the stochastic indicator support the expectation of a rise. However, if the price breaks below $2,483.40, further declines could push it towards the $2,430.00 level before any new upward attempts.
Today’s expected trading range is between $2,475.00 support and $2,515.00 resistance.
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