Gold faces solid resistance – Analysis - 22-03-2018

Gold price settles at 1335.40 level, as the price finds solid resistance there, and it might be forced to show some temporary decline until managing to get enough positive momentum to push trades to breach the mentioned level and confirm extending the bullish wave.

Therefore, we suggest the domination of the overall bullish trend in the upcoming period, depending on the last breach to the correctional bearish channel’s resistance, taking into consideration that holding above 1316.48 represents key condition to continue the expected rise.

Expected trading range for today is between 1316.00 support and 1350.00 resistance.

Expected trend for today: Bullish