Daily GOLD Forecast – 18.1.2024 (Update)

GOLD Signals TEAM January 18, 2024 GOLD Forecast

Technical analysis for XAU/USD on the 1-hour chart at 11:22 AM, priced at $2012.37, indicates a predominant bearish trend. Oscillators and moving averages support selling, while pivot points suggest potential further declines. With no gold forecast data, caution is advised, emphasizing monitoring key levels. Probability of decline: 70%, upside: 30%.

🟨 Daily GOLD Forecast – 17.5.2024

A potential increase in XAU/USD quotes could be signaled by a test of the support line on the relative strength index (RSI). Another strong indicator would be a breakout from the lower boundary of the bullish channel. However, if Gold prices are to decline on May 16, 2024, this would likely involve a drop below the 2295 level. Such a move would suggest a breakdown of the support area and a continued decline in asset quotes to below 2245. Conversely, expect XAU/USD growth to accelerate if the resistance area is breached, with closing prices above 2375.

We anticipate an initial attempt at price correction, testing the support area near 2325. Following this, we expect a sustained rise in non-ferrous metal quotations, targeting levels above 2545. Should the plan to raise Gold prices be canceled, it would result in a market decline and a drop below the 2295 level, indicating a continued fall in Gold prices with a potential target below 2245.

Posted: May 17, 2024 at 9:54 am

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Daily GOLD Forecast – 18.1.2024 (Update)

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