Today’s Gold Forecast price trend 2024 with trading signals

Gold stock market signals via WD Gann cycles
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Gold forecasts today with stock market signals

Gold forecasts today with short- and long-term trend analysis using WD Gann time cycles.

Weekly gold chart with technical overview of the last two years

Gold forecasts today using the Gann technique
Weekly gold 15.04.24

Gold forecasts today: weekly entry signals

With the expiry of the Range Square in the week of 23 February 2024, the Gold market ended the long negative sideways phase that had characterised the previous two months and started a new bullish action.

In particular from the top of 08 December at $2,146, Gold gradually softened its weekly returns until it reached a low at $1,984 in the week of 16 February 2024.

Just after the weekly set-up on 23 February, the bullish trend started to push the prices of the yellow metal towards new all-time highs, reaching all the targets set in the last report.

The last expired stock market signal in the Gold market coincides with the week of 12 April.

The dynamics of Gold generated in this period a new high on the static resistance of the eighth at $ 2,431 to subsequently perform a negative retracement and close at $ 2,343.

The trend remains positive and although a new very short sideways phase could be generated between $2,400 and $2,320, the next targets remain the $2,460-$2,540 area.

Should prices fall below $2,298 then a new negative sideways phase will be triggered with supports in the $2,256 area.

Monthly Gold Trends: Investment and Trend Analysis in the Medium Term

Gold price forecasts through Gann cycles
Monthly Gold Analysis

With the expiry of the November 2022 monthly set-up, the medium-term dynamics of Gold prices completed the correction following the first broad upward movement, which had characterised the 2019-2020 period.

The new positive dynamics, following the expiry of the November time frame, pushed prices towards the previous highs of August 2020 and March 2022 in the $2,080 area.

Following the negative retracement in September 2023, the Gold market generated a second bottom based on the ascending corridor outlined by the 1X2 angles drawn in yellow at $1,846.

In the following month of October, with the expiry of the Minimum Square, the Gold market generated a bullish out-side.

Since October, we have witnessed continuous monthly bullish breakouts of previous highs and the achievement of new absolute highs.

The next medium-term signal in the Gold market will expire in May-June 2024.

The next price targets for the metal consist of the intermediate levels of the bullish channel and are in the area of $2,490; $2,540; $2,620.

Only the return below $2,218 will indicate a partial stop of the positivity.

Long-term technical analysis Gold: trading in the quarterly time frame

Technical analysis Gold and price trends with WD Gann cycles
Quarterly Gold Analysis

Gold’s long-term trend is bullish.

As of Q4 2023 quarterly returns are outlining four times the Drift as indicated by the purple vector.

Next targets area $2,500; $2,620.

Supports are identified by the ascending 1X1 angle drawn in red on the slide above and is in the $2,100 area.

The article on the Gold forecast was described with the help of the WD Gann technique and with the use of the Top Trader(c) software.

 

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