Gold price gathers new positive momentum – Analysis - 12-09-2023

Gold price finds difficulty to confirm breaching 1929.00 level, to rebound bearishly and lean on the intraday bullish trend line that appears on the chart, noticing that stochastic provides the positive momentum again, waiting to motivate the price to resume the bullish wave and surpass the mentioned level to open the way to head towards 1945.20 as a next main target.

Therefore, the bullish trend scenario will remain valid and active for the upcoming period, noting that breaking 1919.80 followed by 1913.15 levels will stop the expected rise and push the price to turn to decline.

The expected trading range for today is between 1913.00 support and 1940.00 resistance.

The expected trend for today: Bullish