GOLD → The correction is ending. Rally to 2400

2024-05-10 10:34 GOLD Forecast

👑 Ideas For XAUUSD / GOLD

📈 GOLD → The correction is ending. Rally to 2400

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GOLD is moving from the consolidation phase, to the phase of realization of accumulated potential and rallying to 2400. The price enters one of the key ranges

The fourth wave of correction is coming to an end and a rally within the V wave is being formed. The potential target could be 2400-2550. The price is returning to the range of 2398-2362. If the bulls keep the price above the 2362-2352 area, it will confirm their intentions and open the way to 2400-2450. Fundamentally, gold has a good potential on the back of the falling dollar index

Resistance levels: 2382, 2398, 2417

Support levels: 2362, 2352

Within the framework of the bullish wave after the rally may be followed by a small correction or consolidation, but the bullish movement and the trend as a whole may get its continuation.

R. Linda

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