Gold Price Shows Signs of Recovery, Stochastic Losses Pose Challenge – March 19, 2024

by Jennifer

The price of gold has exhibited positive trading patterns, nearing a crucial resistance level currently positioned at 2166.75. However, this upward momentum is accompanied by stochastic losses, potentially hindering further gains. Consequently, the price remains confined within the boundaries set by the key levels of the aforementioned resistance and 2145.35 support, thereby maintaining a neutral outlook until a decisive breach occurs.

It is noteworthy that surpassing the resistance level would signal a resumption of the primary bullish trend, paving the way for potential gains with an initial target around the 2200.00 mark. Conversely, a breach of the support level would indicate the onset of additional bearish correction, with the next target situated at 2114.55.


Today’s anticipated trading range is expected to fluctuate between a support level of 2145.00 and a resistance level of 2180.00.


Trend Forecast: Neutral

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