Gold price forecast update 19-04-2024

Gold Price Analysis

Expected Scenario

• Gold price faces temporary negative pressure after testing the bullish channel’s resistance line.
• It fluctuates around the 2385.00$ level now, while the EMA50 continues to provide positive support to the price.
• This keeps the chances valid to continue the main bullish trend, with targets beginning by breaching 2431.45$ to confirm rallying towards 2510.00$.
• On the other hand, breaking 2375.00$ will put the price under negative pressure to head towards testing 2325.90$ before any attempt to resume the bullish track again.

Expected Trading Range

Between 2375.00$ support and 2425.00$ resistance.