Gold price suffers strong losses - 15 April 2024 Forecast

Gold prices suffers a sharp downward rebound on Friday evening, dropping nearly $100 to hit $2333.80. This decrease signaled a bearish correction from levels around $1984.16, with the price stopping near the 23.6% Fibonacci correction level. Currently, the price indicates positive trading, hinting at a possible resumption of the primary bullish trend.

Anticipated Scenarios:

Forecasts suggest further positive trading, aiming to surpass $2393.00 initially and potentially reaching $2510.00 as the next significant milestone. A breach below $2325.90 would interrupt the expected ascent, potentially triggering additional bearish correction targeting $2260.60.

Expected Trend

Today's expected trading range spans from the support level at 2345.00 to the resistance level at 2390.00.

The expected trend for today is bullish.