Gold analysis for 05.09.2023

The Gold market is currently facing a potential resistance indicated by a green Ichimoku cloud ahead. The histogram on the indicator reflects weak bearish momentum with a red hue. Traders might observe these elements as potential signals of impending price movement or a potential reversal, taking into consideration the interaction between price and the Ichimoku cloud as well as the strength of the histogram color.

• There is a resistance level at 1952.89; followed by resistance at 1972.08 and 1987.26.

• There is a support level at 1884.77. Below, there are 1904.17 and 1934.33.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.