Gold price completes negative pattern – Analysis - 13-09-2023

Gold price confirmed breaking 1913.15 after ending yesterday below it, starting today with new decline to head towards achieving negative targets that start at 1890.00, noting that the head and shoulders’ pattern that appears on the chart has additional negative targets that reach 1873.50.

Therefore, we are waiting for more expected decline in the upcoming sessions, taking into consideration that breaching 1913.15 followed by 1916.80 levels will stop the negative scenario and lead the price to start recovery attempts on the intraday basis.

The expected trading range for today is between 1875.00 support and 1920.00 resistance.

The expected trend for today: Bearish