Gold price negotiates the resistance – Analysis - 17-03-2023

Economies.com
2023-03-17 04:17AM UTC

Gold price tests 1928.60 level now, and believe that the chances valid to breach this level and open the way to head towards our next target at 1960.00.

 

The EMA50 continues to support the expected bullish wave, while stochastic prepares to provide positive signals that provide more support to the positive scenario.

 

Therefore, the bullish trend scenario will remain suggested for the upcoming period, noting that breaking 1907.00 might put the price under negative pressure to head towards testing the key support 1878.80 before turning back to rise again.

 

The expected trading range for today is between 1915.00 support and 1950.00 resistance.

 

The expected trend for today: Bullish

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