Daily GOLD Forecast – 18.1.2024

GOLD Signals TEAM January 17, 2024 GOLD Forecast

Gold faced bearish pressure as it dropped below the 50-day SMA on Wednesday. Potential support zones stand at $1,990 and $1,975, with further downside focusing on the 200-day SMA. Conversely, a bullish reversal may encounter resistance at $2,010 and $2,045-$2,050. Surpassing these levels could set the stage for a rally towards late December highs near $2,085.

🟨 Daily GOLD Forecast – 30.4.2024

An additional indication suggesting a decline in XAU/USD rates would be a challenge to the resistance line on the relative strength index (RSI). Following that, a breakout from the upper boundary of the bearish channel would serve as the second signal. Should Gold's potential price reduction option be revoked on April 30, 2024, we anticipate a robust upsurge in prices, coupled with a breach of the 2395 level. Such an occurrence would signify a breakthrough in the resistance zone, paving the way for sustained asset appreciation above the 2445 mark. Conversely, brace for a hastened descent in XAU/USD rates upon breaching the support zone and concluding below the 2290 threshold, marking a breach of the lower boundary of the bullish correction channel.

Posted: April 30, 2024 at 7:54 am

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Daily GOLD Forecast – 18.1.2024

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