Gold price forecast today 16 March 2024
I offer you our dear followers, the daily analysis of gold prices for this day, March 16, 2024. In this analysis, I expect gold prices to rebound and rise slightly to the upside before falling again at the end of this week, and therefore we advise traders to sell gold within the next week.
Gold price forecast today
I present to you our followers the weekly technical analysis of gold prices against the US dollar for the week extending from 15 to 19 March 2024
Gold price forecast
As shown in the chart below, gold prices last week touched the weekly demand area at the level of 1677 / and immediately after touching this area, the prices rebounded strongly as expected with the formation of a daily swallow candle confirming the beginning of the correction wave on gold prices in the coming days.
Gold price forecast today
We expect more weakness for gold against the US dollar in the medium and long term, but now we will witness a phase of correction in gold prices.
In the event that gold prices reach the supply area at the resistance area near the level of 1560, the opportunity will be favorable to enter the sale of gold by placing a stop-loss order at the level of 1781 and a first target at the level of 1687, i.e. the previous demand area.
Gold Price Forecast and Analysis March 15,2021 by FxForecast24 on TradingView.com
Post a Comment