Gold price resumes the rise – Forecast today - 19-04-2024

Gold Price Analysis

Expected Scenario

• Gold price trades with clear positivity by today’s open to test 2400.0$ barrier, reinforcing the expectations of continuing the bullish trend, waiting for more rise to breach 2431.45$ and confirm extending the bullish wave towards 2510.00$ as a next main station.
• The EMA50 continues to support the bullish wave that moves organized inside the bullish channel that appears on he chart, noting that breaking 2375.00$ will stop the expected rise and push the price to test the key support 2325.90$ before any new attempt to rise.

Expected Outcome

The expected trading range for today is between 2375.00$ support and 2425.00$ resistance.