5
Gold prices showed a positive trend at today’s opening, influenced by stochastic indicators. Despite the initial uplift, the indicator’s loss of positive momentum suggests a potential resumption of the bearish trend on an intraday basis, with the primary target set at $2,483.40.
A drop below $2,500.00 would facilitate reaching the suggested target. However, if prices surpass $2,526.00, the anticipated bearish outlook could be negated, potentially shifting the market back to a bullish trajectory. This could lead to new gains, starting at $2,540.00 and extending up to $2,600.00.
Today’s expected trading range is between $2,490.00 for support and $2,526.00 for resistance.
Related topic:
How to Trade in MCX Gold Futures?