Gold price forecast update 29-04-2024

Key Points:

• Gold price has found solid support at $2325.90, indicating a slight bullish bias.
• The EMA50 is posing minor resistance against the price, suggesting a potential for further upward movement.
• However, the correctional bearish scenario remains in place unless the price breaches $2360.50 and returns to the main bullish channel.
• Confirmation of bullish momentum would require a break above $2360.50, targeting the main awaited level at $2260.60.

Expected Trading Range:

The anticipated trading range for today is between $2305.00 (support) and $2345.00 (resistance).

Trend Forecast:

Bearish

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