Gold price forecast update 23-05-2024

Gold Price Analysis

Expected Scenario

• Gold price continues to decline to approach our awaited target at 2340.00$, reminding you that breaking this level will push the price to achieve additional bearish correction that targets 2272.06$ areas as a next main station.
• Moving below the EMA50 supports the continuation of the suggested bearish wave, which will remain valid conditioned by the price stability below 2392.00$.

Expected Trading Range

Between 2345.00$ support and 2385.00$ resistance.