Gold price within sideways track – Analysis - 26-03-2021

Gold price’s recent trade are confined within sideways track between 1740.00 resistance and 1720.00 support, facing contradiction between the technical indicators, which makes us suggest the domination of the sideways move until the price confirms surpassing one of the mentioned levels followed by determining the next destination clearly.

Note that breaking the mentioned support will press on the price to return to the main bearish track and achieve negative targets that start at 1700.00 followed by 1692.00, while breaching the resistance represents the key to rally to recover and achieve gains that reach 1765.00 initially.

The expected trading range for today is between 1710.00 support and 1740.00 resistance.

The expected trend for today: Sideways