Gold price loses momentum – Analysis - 15-03-2021

Gold price’s rise stopped at the key resistance 1735.00, and begins providing bearish rebound signals now, noticing that stochastic lost its positive momentum to show clear overbought signals, reinforcing the chances of achieving more decline today.

Therefore, the bearish trend scenario will remain valid and active for the upcoming sessions conditioned by the price stability below 1735.00, reminding you that our main waited targets begin at 1692.00 and extend to 1660.00 after breaking the previous level.

The expected trading range for today is between 1700.00 support and 1740.00 resistance.

The expected trend for today: Bearish