Gold price needs a confirmation signal – Analysis - 19-03-2021

Gold price is stuck between the intraday bullish channel’s support line that rises now to 1725.00 and the key resistance 1739.50, facing contradiction between the indicators, which makes us continue with our neutrality until the price manages to surpass one of these levels to detect its next destination clearly.

Note that breaking the mentioned support will press on the price to resume the main bearish trend that its next target located at 1692.00, while breaching the resistance represents the key to start correctional bullish wave and achieve gains that start at 1765.00 and extend to 1800.00.

The expected trading range for today is between 1710.00 support and 1755.00 resistance.

The expected trend for today: Neutral