Gold price completes a positive pattern – Analysis - 13-09-2019

Gold price completed forming falling wedge pattern that its signs appear on the chart, to trade with clear positivity yesterday, and it returns to fluctuate near the main bullish trend line that appears on the chart, accompanied by stochastic reach to the oversold areas.

Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, and the targets begin by confirming breaching 1508.00 barrier to open the way to rally towards 1555.00 areas mainly, taking into consideration that breaking 1485.00 will stop the expected rise and press on the price to start correctional bearish wave on the short term basis.

The expected trading range for today is between 1485.00 support and 1525.00 resistance.

The expected trend for today: Bullish