Gold price hits the second target – Analysis - 25-03-2020

Gold price bounced downwards clearly after touching 1633.60 level, as it found solid resistance there, to test the support base formed above 1599.10 after breaching it previously, waiting to lean on this level to rebound bullishly and resume the expected bullish trend on the intraday and short term basis, reminding you that breaching 1633.60 will push the price to 1689.30 as a next station.

Therefore, our bullish overview will remain valid for the upcoming period, noting that breaking 1599.10 will press on the price to test 1571.20 direct before any new attempt to rise.

The expected trading range for today is between 1590.00 support and 1650.00 resistance.

The expected trend for today: Bullish