Gold Prices Encounter Transient Negative Influence – March 13, 2024 Forecast

by Jennifer

Gold prices saw a momentary decline, halting at the 2150.00 level. This pause marks the initiation of positive trades, suggesting a potential return to the overarching bullish trend. The impetus for this positive shift is underlined by the favorable overlapping signal from the stochastic indicator, hinting at a trajectory towards our primary target at 2200.00.

The continuous support from the EMA50 reinforces the anticipated bullish movement. It is essential to note that a breach of 2144.60 may interrupt the projected rise, leading to a bearish correction with the initial target around the 2114.55 areas.


The envisaged trading range for today is expected to oscillate between support at 2145.00 and resistance at 2180.00.


Trend Forecast: Bullish

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