Gold Price Experiences Temporary Downward Pressure - Today's Forecast - 13 March 2024

The decline in the price of gold stopped at the level of 2150.00, signaling potential positive trading opportunities indicating a return to the overall bullish trend. This is supported by the positive signal from the stochastic indicator. The next main target is anticipated to be at 2200.00.

The EMA50 continues to reinforce the suggested upward movement. However, a break below 2144.60 could halt the anticipated rise and trigger a bearish correction, with the initial target around the 2114.55 area.

Expected Trend

Today's expected trading range spans from the support level at 2145.00 to the resistance level at 2180.00.

The expected trend for today is bullish.