Gold price breaks the support – Analysis - 27-09-2023
Economies.com
2023-09-27 03:21AM UTC
Gold price broke 1913.15 level strongly to settle below it, as it reached 1900.00 areas, to activate the bearish trend scenario on the intraday basis, targeting heading towards 1890.00 followed by 1875.00 levels as next negative stations.
Therefore, we expect to witness more decline in the upcoming period supported by the negative pressure formed by the EMA50, noting that breaching 1913.15 will stop the negative scenario and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1880.00 support and 1913.00 resistance.
The expected trend for today: Bearish
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