Gold price hits the first positive target – Analysis - 10-03-2021

Gold price managed to achieve the first waited positive target at 1715.00, to notice that the price begin to provide negative signals that hint heading to resume the main bearish track again, as the EMA50 forms solid resistance barrier against the price, accompanied by witnessing clear negative signals by stochastic.

Therefore, the bearish bias will be suggested for today, and the targets begin at 1692.00 and extend to 1660.00, noting that breaching 1721.00 will stop the expected decline and push the price to achieve additional gains that reach 1740.00.

The expected trading range for today is between 1690.00 support and 1725.00 resistance.

The expected trend for today: Bearish