Gold price is recovering – Analysis - 18-09-2023

Gold price shows more bullish bias, and attempts to breach 1929.00 level now, to support the chances of continuing the positive trades and head to achieve gains that reach 1945.20 initially.

Therefore, the bullish bias will be expected for today, supported by moving above the EMA50, it might be preceded by some temporary sideways fluctuation affected by stochastic negativity.

On the other hand, we should note that failing to breach 1929.00 will push the price to decline and visit 1913.15 areas again.

The expected trading range for today is between 1920.00 support and 1945.20 resistance.

The expected trend for today: Bullish