Daily Outlook 05 Mar Tuesday

Gold price traded in a very limited range yesterday. Break and hold of 38275 should proceed ahead to a test of 39000 level on upside. Downside outlook remains same as in Weekly Technical Outlook posted yesterday. A break and hold of 37725 level is needed for further downside move.

In the image, price has fought its way back into the channel. If the channel holds, the key levels are as mentioned above, could test the 39000 level as mentioned first and then to the upper limit of the channel. But for this, of course, the market has to follow.

Happy Trading :)