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The price of gold continues to fluctuate within the range defined by the support level at 2145.35 and the declining resistance line, currently at 2160.00. This ongoing fluctuation maintains our neutral stance, as the price is encountering conflicting technical indicators, necessitating a clearer signal for the next trend, which will be determined by surpassing one of these levels.
It's worth noting that a breakthrough above the resistance would signal a continuation of the primary bullish trend, with a target set at 2200.00. Conversely, a breach of the support level would initiate a bearish correction, with the next target positioned at 2114.55.
Expected Trend
Today's expected trading range spans from the support level at 2140.00 to the resistance level at 2180.00.
The expected trend for today is neutral.
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