Gold price needs more positive momentum – Forecast today - 28-03-2024

Economies.com
2024-03-28 03:08AM UTC

Gold Price Analysis

Consolidation Around Key Level

Gold price settles around the 2190.00$ level after a recent rise.

The price has temporarily lost its positive momentum, pausing the bullish wave.

Resumption of Bullish Trend

Positive momentum is awaited to push the price to resume the rise.

First target is set at 2222.86$.

Supporting Factors

The EMA50 continues to support the price from below.

Breaking 2166.50$ will halt the rise, leading to potential bearish correction targeting 2131.70$.

Trading Range

Expected trading range for today: 2175.00$ support - 2210.00$ resistance.

Trend forecast: Bullish

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