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Gold prices have recently tested the minor support level at $2,500, showing resilience as they consolidate above this threshold. The stochastic indicator is approaching a positive signal, suggesting a potential resumption of the bullish trend on an intraday basis, with a target of $2,540 as the next significant level.
Maintaining prices above $2,500 is crucial for the continuation of the upward trend. A breach of this level could exert additional negative pressure, potentially leading the price to test the key support level at $2,483.40 before any further positive movement.
For today, the expected trading range is between the $2,500 support and the $2,535 resistance.
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