Gold price forecast update 11 March 2024

Throughout the morning, the gold price has hovered around the 2180.00 level without displaying any significant movements seen in previous sessions. However, there are indications that the stochastic is attempting to gather positive momentum on intraday time frames. This suggests a potential resurgence of the expected bullish trend for today, with initial targets set at 2200.00 and further extending to 2260.00 upon surpassing the previous level.

The maintenance of levels above 2144.60 is crucial for sustaining the anticipated upward trajectory. A breach of this level could signal a shift towards a downward trend, potentially leading to intraday bearish correction before resuming an upward trend.

Expected Trend

Today's expected trading range spans from the support level at 2160.00 to the resistance level at 2200.00.

The expected trend for today is bullish.