Gold price trading stabilizes above the resistance of the descending intraday channel, and obtains good positive support from the moving average 50, awaiting the resumption of the expected bullish wave in the intraday term, which targets the 2065.70 level as the next stop.
Therefore, the bullish trend scenario will remain effective for the coming period, and breaching the aforementioned level will open the way to achieving additional gains up to 2100.00, while breaking 2016.90 will put the price under negative pressure and open the way for heading towards the next corrective target at 1977.46.
The expected trading range for today is between support 2020.00 and resistance 2050.00
The general trend expected for today: bullish
