Gold Price Analysis
Expected Scenarios
- Gold price shows some slight bullish bias to test the EMA50 that forms good resistance against the price, to protect the correctional bearish scenario and support the chances of resuming the decline in the upcoming sessions, waiting to visit 2260.60$ as a next main target.
- Therefore, we will continue to suggest the bearish trend on the intraday basis conditioned by the price stability below 2325.90$, as breaching this level represents the key to escape the correctional bearish track and head to return to the main bullish track again.
Trading Range for Today
- Support: 2285.00$
- Resistance: 2325.00$
Trend forecast: Bearish
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