Gold price gathers the positive momentum – Analysis - 26-03-2020

Gold price faced negative pressure to test the key support 1599.10 again, accompanied by stochastic getting rid of the negative momentum and approaching the oversold areas, waiting to get enough positive motive to push the price to resume the main bullish trend, which its targets begin by surpassing 1633.60 to open the way to head towards 1689.30 as a next station.

Therefore, the bullish trend scenario will remain valid for the upcoming period, noting that breaking 1599.10 will press on the price to test the most important support to the short term trading at 1571.20 before any new attempt to rise.

The expected trading range for today is between 1585.00 support and 1635.00 resistance.

The expected trend for today: Bullish