Gold prices have demonstrated a clear upward trend in recent sessions, approaching the initial target of $2,668.00. Market analysts are now anticipating further increases, with the next significant target set at the recently recorded high of $2,685.50. However, it is essential to note that the current negativity indicated by the stochastic oscillator may impede this upward momentum, potentially leading to temporary sideways fluctuations before a resumption of positive trading.
Maintaining a price level above $2,635.06 is crucial for sustaining the anticipated rise. A break below this level could trigger a new bearish correction, with the next target potentially reaching $2,603.90.
Today’s expected trading range is between a support level of $2,640.00 and a resistance level of $2,675.00.
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