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🟨 Daily GOLD Forecast – 18.4.2024

In the context of #GOLD, signaling a potential upward movement in quotes could involve 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 drop below 2285 by April 18, 2024, indicating a breakdown in support, anticipate further declines towards 2240. On the flip side, expect an uptick in the growth of #XAUUSD quotes upon breaching the resistance area and closing prices above 2415.

Anticipate an initial endeavor towards a price correction, with a support test near the 2340 level, followed by sustained growth in non-ferrous metal quotations targeting levels above 2545. Nevertheless, if prices fall below 2285, it would nullify the bullish outlook, signaling a potential decline towards 2240.

Posted: April 18, 2024 at 9:39 am

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