Gold price surpassed 2790.00$ level to record new historical levels, and begins to test 2800.00$ barrier now, waiting to breach this level to head towards the bullish channel’s resistance line at 2808.20$, noting that breaching this level will extend the bullish wave to reach 2850.00$ areas on the near-term basis.
Stochastic current negativity might cause temporary sideways fluctuation before resuming the bullish wave, noting that breaking 2790.00$ will put the price under negative pressure on the intraday basis and might head to visit 2756.30$ areas before any new positive attempt.
The expected trading range for today is between 2780.00$ support and 2820.00$ resistance.
Trend forecast: Bullish