Gold price attempts to surpass the target – Analysis - 24-09-2020

Gold price succeeded to achieve our waited target at 1860.90 and attempts to break it, which supports the chances of extending the bearish wave on the short term and medium term basis, supported by the negative pressure formed by the EMA50, noting that the next negative station reaches 1794.85.

Therefore, the bearish trend will remain suggested for the upcoming sessions, noting that the consolidation of 1860.90 level against the negative attempts will push the price to achieve intraday gains that target visiting 1901.80 level initially before determining the next destination clearly.

The expected trading range for today is between 1830.00 support and 1880.00 resistance.

The expected trend for today: Bearish