Gold Price Exceeds Target - April 23, 2024 Forecast

Today's trading began with a significant decline in the price of gold, as it dropped sharply below the support level at $2325.90. This indicates the potential for further bearish correction on an intraday basis, with the next target set at $2260.60.

Anticipations point towards continued decline in the upcoming sessions, influenced by the downward pressure exerted by the EMA50. However, if the price manages to break above $2325.90, this negative pressure may subside, potentially leading to an attempt to resume the primary bullish trend.

Expected Trend

Today's expected trading range spans from the support level at 2275.00 to the resistance level at 2335.00.

The expected trend for today is bearish.