Gold price forecast update 15-04-2024

Gold Price Analysis

Expected Scenario

• The price of gold is currently showing a slight bearish bias.
• There might be a test of the key support at 2325.90$ before a potential upward movement resumes.
• The bullish trend scenario remains valid unless the mentioned support is broken and held below.
• The bullish outlook is supported by stochastic positivity and the EMA50.
• Targets start at 2393.00$ and extend to 2510.00$ after surpassing the previous level.

Expected Outcome

The price is expected to maintain a bullish trend.

Expected Trading Range

Between the support at 2345.00$ and the resistance at 2390.00$.