Gold price surpasses the first target – Forecast today - 29-03-2024

Gold Price Analysis

Expected Scenario: Bullish Trend

• Gold price confirmed breaching the $2222.86 level after closing the daily candlestick above it.
• This reinforces the expectations of continuing the bullish trend on the intraday and short-term basis.
• We anticipate targeting $2250.00 areas on the near-term basis.
• We expect further rise in the upcoming sessions, organized inside the bullish channel visible on the chart.
• Breaking $2222.86 and trading below it will likely lead to a decline, testing the bullish channel’s support line around $2188.00 before any new attempt to rise.

Expected Trading Range for Today

• Support: $2220.00
• Resistance: $2250.00

Trend Forecast: Bullish