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Weekly GOLD Forecast – (15.4.2024 – 19.4.2024)

In this trading week, potential signals for an upward movement in #GOLD (#XAU/USD) quotations and prices could include a bounce from the support line on the relative strength indicator (RSI) and a rebound from the lower boundary of the bullish channel. However, if prices fall below 2205, signaling a breakdown in support, anticipate further declines towards 2075. Conversely, expect confirmation of an uptrend through a breach of the resistance area and achieving closing quotes above 2405.

Foresee an initial decline and support test around the 2275 area, followed by sustained growth in Gold prices targeting levels above 2645. A validation of this upward momentum would be seen through a test of the trend line on the relative strength index (RSI). However, a drop below 2205 would nullify the bullish outlook, indicating a potential decline towards 2075.