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Daily GOLD Forecast – 9.4.2024

An additional bullish signal for #GOLD quotes may arise from testing the support line on the relative strength index (RSI) and experiencing a rebound from the lower boundary of the bullish channel. However, if prices fall below 2255 by April 9, 2024, indicating a breakdown in support, anticipate further declines towards 2195. Conversely, expect a surge in the growth of XAU/USD quotes upon breaching the resistance zone and closing prices above 2375.
Foresee an initial attempt at a price correction, testing support around 2295, followed by sustained growth in non-ferrous metal quotations targeting levels above 2465. Nevertheless, if prices drop below 2255, it would nullify the bullish outlook, signaling a potential decline towards 2195.