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FX.co ★ Weekly analysis on Gold for September 15th, 2023.

Weekly analysis on Gold for September 15th, 2023.

Weekly analysis on Gold for September 15th, 2023.

Red lines- bearish channel

Blue line- support

Gold price is trading just above $1,900 after getting rejected at the upper channel boundaries last week. Resistance by the bearish channel is found at last week's highs. Trend remains controlled by bears in the near term as long as price remains below $1,986.Downside potential implies that a move towards $1,800 is possible on a weekly basis. Near term support is found around $1,880-90 area. A break below this level will increase dramatically the chances of a move lower.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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