Gold price returns to the bullish channel – Analysis - 28-12-2023

Gold price opens today’s trading with more positivity to return to the main bullish channel that appears on the chart, which supports the continuation of the expected bullish trend on the intraday and short-term basis, opening the way to achieve new gains that start at 2100.00 and extend to reach the recently recorded high at 2144.60.

On the other hand, we remind you that the current bullish wave is affected by the previously completed double bottom pattern, which reinforces the chances of continuing the rise in the upcoming sessions.

Therefore, the bullish trend scenario will remain valid and active unless breaking 2065.70 and holding below it.

The expected trading range for today is between 2075.00 support and 2105.00 resistance.

The expected trend for today: Bullish