Gold price within positive pattern – Analysis - 31-03-2023

Gold price’s recent trades are confined within symmetrical triangle that appears on the chart, thus, breaching 1992.00 resistance will provide good positive motive that supports the expectations of continuing the main bullish trend, which its targets begin at 2000.00 and extend to 2040.00 after surpassing the previous level.

Therefore, the bullish trend scenario will remain active, supported by the EMA50 that carries the price from below, noting that breaking 1962.50 will stop the bullish wave and press on the price to achieve new bearish correction.

The expected trading range for today is between 1965.00 support and 2000.00 resistance.

The expected trend for today: Bullish