GOLD (Summary + GDP result) Technical Analysis of Gold
The price is expected to consolidate between 2327 and 2344 until a breakout occurs. Today, the GDP report will impact the market, with expectations being negative for the U.S. dollar. Depending on the results, the price may initially push up before starting to drop. However, if the GDP exceeds 1.2%, this outcome will likely be negative for gold.
In summary, stability below 2327 will lead to a drop towards 2303, while stability above 2344 will support a rise towards 2354 and 2369.
Pivot Price: 2344
Resistance Levels: 2354, 2369, 2388
Support Levels:** 2327, 2318, 2304
Today's anticipated trading range is between the support level at 2302 and the resistance level at 2369.