Gold Price Forecast for May 28, 2024: Bullish Trend Continues

by Jennifer

Gold Price Analysis:

In recent sessions, the gold price has demonstrated positive momentum, surpassing the critical level of $2340.10 and concluding the daily candlestick above it. This breakout suggests a cessation of the preceding bearish correction and a potential resurgence of the primary bullish trend.

Advertisements

Expected Scenario:

Advertisements

Market sentiment anticipates a trajectory towards gains, with initial targets set at $2410.00, followed by $2450.00 levels. A crucial milestone for realizing these objectives lies in breaching the $2365.65 mark. However, the current presence of stochastic negativity might moderate the pace of the anticipated bullish wave. Conversely, a breach below $2340.10 would interrupt the bullish trajectory, potentially leading to a renewed decline in prices.

Expected Trading Range:

The projected trading range is between the support level of $2340.00 and the resistance level of $2375.00.

Trend Forecast: Bullish

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News