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Gold prices experienced a significant rally yesterday, surpassing the anticipated target of $2,644.65, which positions the market for potential further gains in both the short and medium term. Analysts suggest that the next key target is the $2,700 barrier.
The upward trend is bolstered by the EMA5 indicator, indicating continued bullish momentum. However, a break below $2,647.00 could halt this upward trajectory, subjecting prices to a corrective bearish phase before a potential rebound.
Today’s expected trading range is set between a support level of $2,650.00 and a resistance level of $2,690.00.
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How to Trade Gold Futures on TD Ameritrade?