Gold price begins to recover – Analysis - 18-09-2020

Gold price tested 1934.86 level and bounced bullishly from there, which keeps our bullish overview for the upcoming period, as the price surpassed the EMA50 to head towards our first waited target at 1967.90, reminding you that breaching this level will extend the bullish wave to reach 2008.80 as a next station.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that breaking 1934.86 and holding below it will stop the expected rise and press on the price to turn to decline.

The expected trading range for today is between 1930.00 support and 1980.00 resistance.

The expected trend for today: Overall Bullish