Gold price forecast update 24-04-2024

Analysis of Expected Scenarios

• Gold price shows slight negative trades now to hint the attempt to resume the expected correctional bearish trend, motivated by stochastic negativity, waiting to head towards 2260.60$ as a next main target.
• The EMA50 continues to press negatively on the price to support the expectations to decline, which will remain valid unless the price rallied to breach 2325.90$ followed by 2343.00$ levels and holding above them.

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

Trend forecast: Bearish