Gold price forecast update 22-04-2024

Gold price trades negatively to break 2365.10$ level and head towards achieving more expected decline for the rest of the day, targeting testing 2325.90$ in the upcoming sessions.

Therefore, the bearish bias will be suggested on the intraday basis, noting that the expected decline is temporary, waiting to resume the main bullish trend again, taking into consideration that breaking the targeted level will push the price to achieve additional bearish correction that its next target reaches 2260.60$, while breaching 2365.10$ represents the key to resume the main bullish track and head towards 2431.45$ as a first positive station.

The expected trading range for today is between 2345.00$ support and 2380.00$ resistance.

Trend forecast: Bearish for the rest of the day