Gold price attempts to recover – Analysis - 04-09-2023

Gold price’s decline stopped around 1935.00 areas, noticing that the price begins today with clear positivity and attempt to surpass 1945.20 level, to hint heading to recover and resume the main bullish track again, which is affected by the previously completed double bottom pattern, waiting to achieve positive targets that start at 1960.00 and extend to 1977.25.

Therefore, the bullish bias will be suggested for today, supported by the EMA50 that carries the price from below, noting that failing to consolidate above 1945.20 will stop the bullish trend and push the price to suffer intraday losses.

The expected trading range for today is between 1935.00 support and 1965.00 resistance.

The expected trend for today: Bullish