Gold Price Awaits Strong Positive Motive - April 22, 2024 Forecast

The gold price has remained relatively stable in recent trading sessions, staying close to the EMA50 indicator.

We're anticipating a positive trigger to reignite upward momentum, aiming to revisit the recent high of $2431.45 initially. The first prerequisite for sustaining this upward trend is consolidation above $2365.10.

Conversely, breaching this level may result in intraday losses, with a potential test of critical support at $2325.90 before any renewed bullish attempts.

Expected Trend

Today's expected trading range spans from the support level at 2360.00 to the resistance level at 2400.00.

The expected trend for today is bullish.