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Gold prices have experienced a calm decline recently, with a bearish bounce observed after testing the previously broken support of the bullish channel. Currently, the price started pressing on the key support 2325.90$, suggesting a potential continuation of the bearish correction.
To confirm this downward movement, the price would need to break below the mentioned support, possibly targeting $2260.60 as the next correctional objective.
Anticipated negative trading sessions are supported by the downward pressure exerted by the EMA50. However, a breach above $2360.50 would halt the expected decline and potentially signal a return to the main bullish trend.
Expected Trend
Today's expected trading range spans from the support level at 2305.00 to the resistance level at 2340.00.
The expected trend for today is bearish.
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