Gold price reaches the target – Analysis - 30-09-2020

Gold price succeeded to reach our waited target at 1901.00 and settles near it, starting to provide potential bearish rebound signals, affected by the strength of the mentioned level, which makes us prefer staying aside until we get clearer confirmation signal for the next trend, which we will get through breaching 1901.00 resistance or break 1890.00 support.

Note that breaching the resistance will push the price to achieve additional gains that reach 1934.86, while breaking the support will press on the price to decline again and head towards the key support 1860.90 again.

The expected trading range for today is between 1870.00 support and 1915.00 resistance.

The expected trend for today: Bullish