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Sideways trading characterized the recent sessions for gold prices. However, the Stochastic indicator is currently gaining positive momentum, indicating a clear approach towards positive overlap. This development serves as a strong catalyst, anticipated to propel prices to resume the expected bullish trend on both intraday and short-term bases, with the next target set at $2330.00.
Will remains to suggest bullish for the foreseeable future, as illustrated by the bullish channel evident on the chart. A breach of the $2265.00 mark would halt the bullish momentum, leading to a test of $2200.00 levels before potential resumption of the primary bullish trend.
Expected Trend
Today's expected trading range spans from the support level at 2275.00 to the resistance level at 2315.00.
The expected trend for today is bullish.
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