Gold price reaches the first target – Analysis - 21-03-2019

Gold price opens today’s trading with more bullish bias to reach our first target at 1320.00, and it continues to move inside the intraday bullish channel that appears on the chart, which supports the chances of extending the bullish wave to reach our next target at 1346.73.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, taking into consideration that breaking 1302.60 will stop the expected rise and push the price to return to the correctional bearish track again.

The expected trading range for today is between 1305.00 support and 1340.00 resistance.

The expected trend for today: Bullish