Gold Price Maintains its Upward Trajectory – Analysis – March 5, 2024

by Jennifer

Gold price concluded yesterday’s session on a highly positive note, securing a position above the $2100.00 barrier. This further strengthens the anticipation of a sustained bullish trend on both intraday and short-term bases, with the next primary target set at the historical high of $2144.00.

The ongoing bullish bias is influenced by the presence of an inverted head and shoulders pattern, evident on the chart. It is crucial for the price to maintain levels above $2065.70 to uphold the anticipated upward movement.


The projected trading range for today is anticipated to fluctuate between the support at $2100.00 and the resistance at $2130.00.


Expected Trend for Today: Bullish

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