Gold price activates the positive scenario – Analysis - 29-09-2020

Economies.com
2020-09-29 03:46AM UTC

Gold price confirmed breaching 1877.00 after closing the daily candlestick above it, which activates the bullish trend scenario on the intraday basis, to head towards testing 1901.80 level mainly, and it might extend to test the previously broken horizontal support line that turns into key resistance now at 1911.00.

 

Therefore, the bullish bias will be suggested for today, noting that breaking 1877.00 and holding below it will put the price under negative pressure that its targets begin by testing 1860.90.

 

The expected trading range for today is between 1855.00 support and 1911.00 resistance.

 

The expected trend for today: Bullish

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