Gold technical analysis

Gold technical analysis (3rd week March,2024)

Gold technical analysis:

The gold price is currently in a strong uptrend. Presently, it’s within a demand zone where it’s attempting an Elliott Wave correction pattern, and it has tested price rejection several times from the 23% Fibonacci level. If price rejection succeeds from the 23% level, then next week, the price is likely to remain in an uptrend. Additionally, this week includes the Fed Interest Rate Decision and Fed Press Conference, which could lead to high volatility in the gold price.

 

We are looking for long if price reject from the zone..

gold technical

 

Alternative scenario…

gold

 

Rana Das
Ceo and Founder
Forex Wave Expert
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