24 Jun 2024
Gold price returns to the correctional bearish track – Forecast today - 24-06-2024
Gold Price Analysis
Expected Scenario
Gold price ended last Friday below 2340.10$ level, falling under correctional bearish pressure again with the next target located at 2272.06$, representing the 38.2% Fibonacci correction level for the rise measured from 1984.16$ to 2450.00$.
We expect to witness more decline in the upcoming sessions, supported by moving below the EMA50, noting that breaching 2340.10$ will stop the negative scenario and lead the price to recover again.
Expected Trading Range
The expected trading range for today is between 2305.00$ support and 2340.00$ resistance.
Trend Forecast: Bearish
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