Midday update for Gold 29-08-2023
Economies.com
2023-08-29 10:24AM UTC
Gold price settles above the breached neckline of the double bottom pattern that appears on the chart, to keep the bullish trend scenario valid and active for today, supported by the EMA50 that carries the price from below, waiting to visit 1929.00 followed by 1945.20 levels as next main stations.
Note that bouncing bearishly and breaking 1913.15 will stop the positive scenario and put the price under the negative pressure again.
The expected trading range for today is between 1913.00 support and 1945.00 resistance.
The expected trend for today: Bullish
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