Gold price returns to test the resistance – Analysis - 20-09-2018

Gold price crawls upwards gradually to approach testing 1208.40 level again, accompanied by Stochastic move within the overbought areas, waiting to motivate the price to rebound bearishly and resume the recently suggested bearish trend, as the price forms triple top pattern now, its confirmation line is located at 1190.00, which means that breaking this level will confirm rallying towards 1180.00 followed by 1160.00 levels that represent our next main targets.

Therefore, our bearish overview will remain active unless breaching 1208.40 level and holding above it.

Expected trading range for today is between 1180.00 support and 1215.00 resistance.

Expected trend for today: Bearish