Gold price needs strong positive motive – Forecast today - 22-04-2024
Economies.com
2024-04-22 03:43AM UTC
Gold Price Analysis
Expected Scenario
- The gold price has been trading sideways in the recent sessions, hovering near the EMA50.
- We are waiting for a positive catalyst to push the price to resume the main bullish wave, targeting a test of the recently recorded high at $2431.45 initially.
- Consolidating above $2365.10 represents the first condition for the continuation of the expected rise. Breaking this level will likely lead to intraday losses, testing the key support at $2325.90 before any new attempt to rise.
Expected Trading Range
Between the support at $2360.00 and the resistance at $2400.00
Trend Forecast: Bullish
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