Gold price gets a negative close – Analysis - 23-09-2020

Gold price closed the daily candlestick below 1901.80, which supports the continuation of our bearish overview efficiently in the upcoming period, paving the way to head towards our next negative target that reaches 1860.90.

Therefore, the negative scenario will remain valid and active, supported by the negative pressure formed by the EMA50, noting that breaching 1901.80 followe by 1911.00 levels will stop the expected decline and push the price to achieve intraday gains that start by testing 1934.86 areas before detecting the next trend clearly.

The expected trading range for today is between 1870.00 support and 1911.00 resistance.

The expected trend for today: Bearish