Gold price reach new historical levels – Today's Forecast - 21 March 2024

The price of gold exhibited significant strength yesterday, surpassing the $2160.00 level to trigger a positive scenario. Today, it began with a sharp rise, surpassing the positive target of $2200.00 and reaching new historical highs at $2222.85. This upward momentum suggests the potential for continued gains in the short and medium term, with the next target set at $2235.00.

The EMA50 indicator supports the anticipated bullish trend, although there may be temporary sideways fluctuations influenced by stochastic negativity. It's important to note that breaking below $2195.00 would halt the current uptrend and potentially lead to a temporary bearish correction.

Expected Trend

Today's expected trading range spans from the support level at 2190.00 to the resistance level at 2230.00.

The expected trend for today is bullish.