Gold price forecast update 26-04-2024

Gold Price Analysis

Expected Scenario

• Gold price shows new positive trades to attempt to return to the bullish channel again.
• Stochastic loses its positive momentum to form potential negative pressure on the price.
• We continue with our neutrality until the price confirms breaching 2346.50$ resistance or break 2325.90$ support to detect its next destination clearly.

Details of Targets and Support

• Breaking the resistance will lead the price to target 2390.00$ followed by 2431.45$ levels as next positive stations.
• Breaking the support will push the price to achieve additional bearish correction, with the next target reaching 2260.60$.

Expected Trading Range

Between 2315.00$ support and 2355.00$ resistance.