Gold price is stable – Analysis - 14-09-2023

Economies.com
2023-09-14 03:40AM UTC

Gold price settles below 1913.15 level, and the negative effect of the head and shoulders’ pattern still active, waiting to resume the bearish wave that targets 1890.00 followed by 1873.50 levels as next main stations.

 

The negative pressure formed by the EMA50 supports the expected decline, noting that breaching 1913.15 followed by 1917.00 will stop the bearish wave and push the price to attempt to build bullish wave on the intraday basis.

 

The expected trading range for today is between 1890.00 support and 1920.00 resistance.

 

The expected trend for today: Bearish

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