Gold price presses on the support – Forecast today - 25-03-2024

Gold price ended last Friday at 2166.50$ level, and continued the attempts to break it, while we notice that the technical indicators provide positive signals that might assist to push the price to recover and attempt to resume the bullish trend again.

Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to 2166.50$ level to detect its next destination clearly, noting that consolidating above it will lead the price to continue the main bullish trend and head to visit 2222.86$ level as a next positive target, while confirming breaking it will push the price to achieve more bearish correction that its next target reaches 2131.70$.

The expected trading range for today is between 2150.00$ support and 2185.00$ resistance.

Trend forecast: Neutral