Gold Price Analysis

Gold price succeeded to touch our first waited target at 2300.00$ and settles there, waiting to continue the rise within the bullish channel that appears on the chart. The next main target is the resistance line of the bullish channel, now at 2330.00$. We continue to suggest the bullish trend on the intraday and short-term basis, supported by the EMA50 that keeps supporting the price from below. Breaking 2260.00$ will stop the expected rise and push the price to test the bullish channel’s support line around 2215.00$ before any new positive attempt. The expected trading range for today is between 2285.00$ support and 2325.00$ resistance.

Trend forecast: Bullish