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Gold News 6 Sep 2023

Sept. 6, 2023, 11:50 a.m. Blog Image

*Gold Daily Technical Report* Gold price continued to decline to reach the support base formed at 1923.00, which represents the breached neckline of the double bottom pattern that appears on the chart, which forms an obstacle against the attempts to decline. The negative effect of the previously completed double top pattern still active, and supports the chances of continuing the decline to surpass the above-mentioned support followed by heading towards our next main target at 1913.15. Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1929.00 will lead the price to start recovery attempts and achieve intraday gains that reach 1945.20 initially. The expected trading range for today is between 1913.00 support and 1940.00 resistance. The expected trend for today: Bearish swell investment.come RSS