Gold Price Analysis

Expected Scenario

Gold price shows sideways trades in the previous sessions. Stochastic gains positive momentum clearly and approaches to overlap positively now. This provides a positive motive that we are waiting to assist in pushing the price to resume the expected bullish trend on the intraday and short-term basis, with the next target located at 2330.00$. We will continue to suggest the bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart. Breaking 2265.00$ will stop the bullish wave and push the price to test 2200.00$ levels before attempting to resume the main bullish trend again.

Expected Trading Range

Between 2275.00$ support and 2315.00$ resistance.

Trend Forecast: Bullish