Gold price awaits the breach – Analysis - 29-02-2024

Gold price provides calm positive trades and gradually crawls towards the neckline of the inverted head and shoulders’ pattern that appears on the chart, located at 2039.65, waiting to breach this level to activate the mentioned pattern and head to achieve expected gains on the intraday and short-term basis, starting at 2065.70 and extend to 2095.00 after surpassing the previous level.

Therefore, we will continue to suggest the bullish trend for the upcoming period, reminding you that it is important to hold above 2016.90 to continue the expected rise.

The expected trading range for today is between 2020.00 support and 2055.00 resistance.

The expected trend for today: Bullish