Daily GOLD Forecast – 6.2.2024

GOLD Signals TEAM February 5, 2024 GOLD Forecast

The technical analysis suggests a bearish sentiment for #GOLD. Most oscillators signal a sell, with momentum and MACD indicating potential buying opportunities. Moving averages present mixed signals, while pivot points unanimously signal a sell. The Gold Forecast is inconclusive. Traders are advised to exercise caution, waiting for clearer market direction.

🟨 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 – 6.2.2024

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