Gold (XAUUSD) Shows Strong Bullish Momentum With Potential Higher Targets

Market Analysis – March 20

Gold exhibits strong bullish momentum with the potential for higher targets. The 9-day Simple Moving Average (SMA) is positioned at $2,980, serving as immediate dynamic support for the ongoing bullish structure. The Relative Strength Index (RSI) is at 73.82, signaling overbought conditions, yet the bullish trend remains intact. The price is currently trading above the $2,960 key support zone, which aligns with the SMA and reinforces the prevailing upward pressure. If the RSI experiences a slight pullback while remaining above 50, the bullish trend is likely to continue.

Gold Key Levels

Resistance Levels: $2960, $3100, $3200
Support Levels: $2880, $2790, $2580

Gold Long-Term Trend: Bullish

The price action reveals a distinct breakout above the $2,880 resistance level. The market has formed a sequence of higher highs and higher lows, confirming a bullish structure. Buyers have displayed strong interest around the $2,880 area, where a breakout triggered the current rally. If the price pulls back, the Breaker Block zone could serve as a key accumulation area for continued upward movement.
The bullish outlook suggests that XAUUSD could aim for $3,100 as the next major resistance, with a possible extension to $3,200 if buying momentum persists. A minor retracement toward $2,960 may occur before further gains, offering a more favorable entry point for buyers. As long as the price stays above $2,880, the bullish outlook remains intact. Should bulls maintain their grip, a sustained move beyond $3,100 could open the door to even higher targets in the weeks ahead, making this a notable period for those relying on forex signals.

Gold Short-Term Trend: Bearish

On the four-hour chart, XAUUSD is showing early signs of a potential bearish reversal after tapping into buy-side liquidity (BSL) near the $3,060 level. The price is currently fluctuating around $3,040, in line with the 9-day Simple Moving Average (SMA), which is acting as short-term support.
A decline below the $2,960 support area could trigger further downside movement toward the $2,880 level. The Relative Strength Index (RSI) is at 70.57, suggesting overbought conditions and supporting the likelihood of a corrective pullback.

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