Gold is making attempts to climb 9/5/2023

Gold prices were able to achieve the bearish slope target mentioned during the previous technical report at 2016, recording its lowest level of $2014 per ounce.

Today’s technical vision indicates the possibility of a bullish retracement based on the stability and consolidation of the price in general above the support of the psychological barrier of 2000 accompanied by Stochastic’s attempt to obtain additional momentum capable of forming a bullish attack, accompanied by the continuation of the positive motive from the Simple Moving Average.

We tend to be positive, but with caution, taking into account that rising above 2030 is able to consolidate gains towards 2037 and 2045, respectively.

We remind you that the return of trading stability below 2000 leads gold prices to conduct a correctional decline with its initial target of 1972.

Note: The level of risk is high, careful consideration is required, and all scenarios are likely to occur.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 2015.00	R1: 2030.00
S2: 2007.00	R2: 2037.00
S3: 2000.00	R3:  2045.00