XAU/USD quotes continue to move within the development of the correction and the bullish channel. At the time of publication of the forecast, the price of Gold for today is 3031 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop gold growth and a test of the resistance level near the 3040 area. From where we should expect a rebound downwards and a continuation of the fall in the price of Gold with a potential target below the level of 2965.
GOLD Forecast and Analysis for March 21, 2025
An additional signal in favor of a decrease in XAU/USD quotes will be a test of the broken trend line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper border of the reversal pattern “Head and Shoulders”. The cancellation of the option of falling prices for Gold on March 21, 2025 will be a strong rise in prices and a breakout of the level of 3055. This will indicate a breakout of the resistance area and continued growth of asset quotes to the area above the level of 3095. It is worth expecting an acceleration of the fall of XAU/USD quotes with a breakout of the support area and the price closing below the level of 3010, which will indicate a breakout of the lower border of the “Head and Shoulders” pattern and the beginning of the implementation of the pattern with targets below.
GOLD Forecast and Analysis for March 21, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near the level of 3040. Further, the continuation of the fall in non-ferrous metal quotes with a target below the level of 2965. The cancellation of the option of a decrease in Gold prices will be a strong increase in the value of the asset in the markets and a breakout of the level of 3055. This will indicate a continuation of the rise in the price of Gold with a potential target above the mark of 3095.
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