Gold price begins with new positivity – Analysis - 17-03-2021

Gold price shows new positive trades today, to reach the key horizontal resistance 1739.85, as the price gets positive signals through stochastic and the EMA50, which might push the price to achieve more gains in the upcoming sessions.

Now, we prefer staying aside temporarily until the price confirms breaching the mentioned resistance or breaking 1725.00 support to detect the next destination clearly, noting that breaching the resistance will lead the price to continue the rise and visit 1747.75 followed by 1765.00 levels as next positive targets, while breaking the support represents the key to resume the bearish wave and head towards 1716.00 followed by 1692.00 levels initially.

The expected trading range for today is between 1720.00 support and 1750.00 resistance.

The expected trend for today: Neutral