Gold price attempts to recover – Forecast today - 26-04-2024

Gold Price Analysis

Expected Scenario

The gold price ended above the $2325.90 level, signaling a potential halt to the bearish correction and a return to the main bullish track. However, it remains below the broken support of the main bullish channel, facing negative signals from technical indicators.

Given the contradictory signals from the technical indicators, it's preferable to stay aside until a clearer signal for the next trend emerges. Breaking the $2346.50 resistance could push the price back into a bullish trend, targeting gains starting at $2390.00 and extending to $2431.45. Conversely, breaking $2325.90 would indicate a return to the correctional bearish track, targeting $2260.60 as a main negative target.

Expected Trading Range

Between the support at $2315.00 and the resistance at $2355.00.