Gold Price Forecast -Technical Report – 22nd April 2019
Gold Price Forecast Summary
In our yesterday Gold Price Forecast, The more bearish movement was expected for minimum 1269 and then 1261. The price moves lower but couldn’t hit our first target level and closes with a small spinning top.
We are still expecting a bearish movement after some correction.
I am sharing Daily & Hourly Technical analysis below.
Gold Daily Forecast 22nd April 2019
The break of the descending triangle was confirmed in previous week session but the next daily closing was very close to the broken support level which makes confusion for bears.
The price may enter in the descending triangle again for a couple of days. if It happens then most probably we will see the price towards the resistance level again 1295-97.
The longe term target is still bearish 1269 and then 1261.
I have shared my Daily technical chart as an example below. Please have a look at the daily gold technical chart below.
Gold Daily Technical Chart 22nd April 2019
Below is the yesterday gold chart reference that moves as per expectations.
XAU-USD Support & Resistance Levels 22nd April 2019
Support : 1261
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