Commodities

Midday update for Gold 16-09-2021

2021-09-16 09:30:29 GMT (Economies.com)

Gold price faces clear negative pressure to break 1786.00 and attempts to hold below it, and by taking a deeper look at the chart, we find that the price completes forming head and shoulders’ pattern that has negative targets that surpass 1770.00 to reach 1735.00.

 

Therefore, the bearish bias will be suggested for the rest of the day unless the price rallied to breach 1797.00 and hold above it.

 

The expected trading range for today is between 1770.00 support and 1810.00 resistance.

 

The expected trend for today: Bearish

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