Gold Price Analysis
Gold price faces negative pressure now, approaching testing the key support base of 2260.00$. As we mentioned this morning, the price needs to hold above this level to keep the bullish trend valid for today, as breaking it will put the price under additional negative pressure to suffer intraday losses that reach 2205.70$.
Stochastic negativity interprets the reasons for the current negative pressure, waiting to gather positive momentum that assists in pushing the price to resume the bullish wave, with its next targets located at 2300.00$ followed by 2320.00$.
The expected trading range for today is between 2270.00$ support and 2305.00$ resistance.
Trend forecast: Bullish
Gold price faces negative pressure now, approaching testing the key support base of 2260.00$. As we mentioned this morning, the price needs to hold above this level to keep the bullish trend valid for today, as breaking it will put the price under additional negative pressure to suffer intraday losses that reach 2205.70$.
Stochastic negativity interprets the reasons for the current negative pressure, waiting to gather positive momentum that assists in pushing the price to resume the bullish wave, with its next targets located at 2300.00$ followed by 2320.00$.
The expected trading range for today is between 2270.00$ support and 2305.00$ resistance.
Trend forecast: Bullish