15.03.202117:16 Forex Analysis & Reviews: Short-term analysis on Gold for March 15, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold price is right at the short-term resistance of $1,730. Bulls need to break above it in order to push higher towards our short-term bullish target of $1,763. Resistance is also found at $1,754 at the downward sloping resistance trend line.

Red line - resistance

Blue line - support

Red horizontal lines - Fibonacci extension targets

Gold price is vulnerable to a move towards $1,650 as long as price is below $1,755. If bulls manage to break above $1,755 then we could see a bigger bounce towards $1,763 and $1,850. Short-term support is at the recent higher low at $1,698. Breaking below it will be a sign of weakness.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.