Gold price surpasses the first target – Forecast today - 29-03-2024

Economies.com
2024-03-29 01:44AM UTC

Gold Price Analysis

Expected Scenario: Bullish Trend

  • Gold price confirmed breaching the $2222.86 level after closing the daily candlestick above it.
  • This reinforces the expectations of continuing the bullish trend on the intraday and short-term basis.
  • We anticipate targeting $2250.00 areas on the near-term basis.
  • We expect further rise in the upcoming sessions, organized inside the bullish channel visible on the chart.
  • Breaking $2222.86 and trading below it will likely lead to a decline, testing the bullish channel’s support line around $2188.00 before any new attempt to rise.

Expected Trading Range for Today

  • Support: $2220.00
  • Resistance: $2250.00

Trend Forecast: Bullish

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