Gold Price Analysis
- Gold price shows sideways trades in the previous sessions, maintaining stability below 2325.90$.
- The EMA50 continues to form negative pressure against the price, keeping the correctional bearish scenario active.
- This scenario targets 2260.60$ as a next negative station.
- There are signs of a negative pattern that might push the price to surpass the mentioned level and head towards achieving additional bearish correction.
- The next target for this bearish correction is 2207.80$.
The bearish trend will remain dominant unless the price manages to breach 2325.90$ and hold with a daily close above it.
The expected trading range for today is between 2270.00$ support and 2320.00$ resistance.
Trend forecast: Bearish
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