Gold price gets the positive momentum – Forecast today - 18-04-2024

Price Analysis: Gold

Expected Scenario

• Gold price faced temporary negative pressure yesterday to test the EMA50, a key support at 2370.00$. The price begins to rise by today’s open, motivated by stochastic positivity, indicating a potential resumption of the main bullish trend, with the next main target at 2510.00$.
• However, breaking 2370.00$ will put the price under additional negative pressure to head towards testing the 2325.90$ level before any new positive attempt.

Expected Outcome

The expected trading range for today is between 2360.00$ support and 2400.00$ resistance.