Gold price forecast update 29-04-2024
Economies.com
2024-04-29 09:54AM UTC
Gold Price Analysis
Key Points:
- Gold price has found solid support at $2325.90, indicating a slight bullish bias.
- The EMA50 is posing minor resistance against the price, suggesting a potential for further upward movement.
- However, the correctional bearish scenario remains in place unless the price breaches $2360.50 and returns to the main bullish channel.
- Confirmation of bullish momentum would require a break above $2360.50, targeting the main awaited level at $2260.60.
Expected Trading Range:
The anticipated trading range for today is between $2305.00 (support) and $2345.00 (resistance).
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