Gold price achieves the first target – Forecast today - 16-04-2024

Gold Price Analysis

Expected Scenario

• Gold price resumed its positive trading yesterday to reach our first awaited target at 2393.00$, waiting to surpass this level to open the way to rally towards our next main target that reaches 2510.00$ areas.
• The EMA50 continues to support the suggested bullish wave, waiting to gather new positive momentum that assist to push the price to continue the expected rise, noting that breaking 2325.90$ will stop the bullish trend and push the price to achieve additional bearish correction that its next target reaches 2260.60$.

Expected Outcome

The expected trading range for today is between 2370.00$ support and 2410.00$ resistance.