Relevance up to 13:00 2022-07-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Technical analysis:
Gold has been trading in sideways regime at the price of $1.717. I see potential for the breakout of the symmetrical triangle pattern. Trading recommendation: Due to the sideways regime, there is potential for the breakout of the symmetrical triangle. Watch for potential selling opportunities in case of the downside breakout. Downside objectives are set at the price of $1.693 and $1.683. Stochastic oscillator is showing fresh bear cross, which is another sign for the downside movement. Key resistance is set at the price of $1.727
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