Gold Price Forecast: Breakout Targets Key Fibonacci and MA Levels
By: Bruce Powers | Published: Mar 31, 2026
Overview
The article discusses the recent performance of gold prices, highlighting a significant test of resistance at the 100-day moving average. The analysis indicates a potential breakout, with gold reaching a high of $4,676, following a series of price movements that suggest a bullish trend.
Current Price Action
Gold has shown resilience, bouncing back from a swing low of $4,099 and forming a higher swing low at $4,351. The recent price action indicates a second leg up, which is part of a rising ABCD pattern. A daily close above $4,603 would confirm this bullish structure.
Short-Term Momentum
On the short-term front, gold has reclaimed the 10-day moving average, signaling improving bullish momentum. This is particularly notable as it had previously faced resistance at this level. If gold can hold above the 100-day moving average, it opens the door for higher price targets.
Target Zones and Support Levels
The primary target for gold is set at the 50-day moving average, currently at $4,955. This level was previously a support point and a return to test it as resistance is anticipated. Additional resistance targets are identified at $4,874 and $4,915, which coincide with Fibonacci retracement levels and the completion of the ABCD pattern.
Confluence Zone for Upside Potential
Before reaching higher targets, gold must surpass the confluence zone at $4,762, which includes a 50% retracement level and a 78.6% Fibonacci target. The proximity of the 20-day average at $4,820 adds significance to this zone. The behavior of gold around this area will be crucial in determining whether the bullish trend can continue or if it will enter a consolidation phase.