Gold price forecast update 25-03-2024

Gold price shows sideways trading since morning, and it remain stable near 2166.50 level, where it attempts to settle above it, waiting for gathering a positive momentum that assists to push the price to resume the bullish trend.

The technical indicators and the expectations

The EMA50 keeps assisting the current support areas and reinforces the expectations to rise, while stochastic loses the positive momentum gradually.

The expected scenarios

• We suggest the bullish trend for the upcoming sessions, which targets 2222.86$ as a next main station, and breaching this level will extend the bullish wave to achieve additional gains that reach 2250.00$.

• Breaking 2166.50$ will put the price under new correctional bearish pressure to head towards visiting 2131.70$ areas mainly.

Expected trading range and price overview

The expected trading range for today is between 2150.00$ support and 2185.00$ resistance.

Trend forecast: Bullish