Gold prices have tested a crucial support level around $2450.00, experiencing a rebound indicating a potential return to the upward trajectory. This rebound is bolstered by positive stochastic indicators observed on the four-hour time frame, supported further by the EMA50.
Analysts anticipate continued bullish momentum in the near term, targeting the next significant resistance level at $2500.00. However, a breach below $2450.00 could signal a temporary halt to the upward momentum, potentially leading to short-term corrective moves with initial targets around $2410.00.
Today’s anticipated trading range spans from the support level at $2450.00 to resistance at $2490.00, setting the stage for potential volatility amid shifting market sentiment.
