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Gold breaks the support – Analysis - 29-03-2018
Gold price confirmed breaking 1335.40 level after closing the daily candlestick below it, to push trading towards visiting 1316.48 level in the upcoming sessions, which represents 38.2% Fibonacci correction level for the rise from 1236.41 to 1365.97.
Therefore, we expect witnessing more decline today, noting that breaching 1335.40 will stop the expected decline and lead the price to resume the main bullish trend that its next target located at 1365.97.
Expected trading range for today is between 1316.00 support and 1335.00 resistance.
Expected trend for today: Bearish
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