Technical analysis
Gold Wave Analysis 25 September 2023
September 25, 2023 @ 21:01 +03:00
![](https://fxpro.news/wp-content/uploads/2023/09/xauusd-primary-analysis-sep-25-1840-pm-1-day-1024x474.png)
– Gold reversed from key resistance level 1950.00
– Likely to fall to support level 1900.00
Gold recently reversed down from the key resistance level 1950.00 (top of wave I from the start of this month) intersecting with the upper daily Bollinger Band.
The resistance level 1950.00 was further strengthened by the 61.8% Fibonacci correction of the previous downward impulse (C) from July.
Gold can be expected to fall further toward the next support level 1900.00 (low of the previous minor correction ii).