Gold price within tight range – Forecast today - 25-04-2024

Gold Price Analysis

• Gold price fluctuates within tight range since yesterday, hovering around 2325.90$ level, keeping its stability below it until now, to keep the bearish trend scenario valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our next target is located at 2260.60$, which represents 38.2% Fibonacci correction for the rise from 1984.16$ to 2431.44$.

Expected Scenarios

• On the other hand, we should note that breaching 2325.90$ followed by 2338.10$ levels will stop the expected decline and lead the price to regain the main bullish trend again.

Trading Range

• The expected trading range for today is between 2295.00$ support and 2335.00$ resistance.

Trend forecast: Bearish

Read more: Will Gold price reach 3000$ areas?