Gold price needs strong positive motive – Forecast today - 22-04-2024

Gold Price Analysis

Expected Scenario

• The gold price has been trading sideways in the recent sessions, hovering near the EMA50.
• We are waiting for a positive catalyst to push the price to resume the main bullish wave, targeting a test of the recently recorded high at $2431.45 initially.
• Consolidating above $2365.10 represents the first condition for the continuation of the expected rise. Breaking this level will likely lead to intraday losses, testing the key support at $2325.90 before any new attempt to rise.

Expected Trading Range

Between the support at $2360.00 and the resistance at $2400.00