Gold price gathers the positive momentum – Forecast today - 10-04-2024

Gold price fluctuates around 2350.00$ level and attempts to gather the positive momentum on the intraday time frames, which supports the chances of heading to resume the main bullish trend on the intraday basis, and the price needs to breach 2364.00$ to reinforce the chances of rallying towards 2400.00$ that represents the next positive target.

Therefore, we expect to witness positive trades in the upcoming sessions, taking into consideration that breaking 2338.00$ will stop the expected rise and push the price to build bearish wave that targets testing the bullish channel’s support line around 2253.00$ before any new attempt to rise.

The expected trading range for today is between 2340.00$ support and 2375.00$ resistance.

Trend forecast: Bullish