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Gold has been trading downside as I expected and there is potential for further downside movement.
Due to the rejection of the strong resistance at the price of $1.667 and triangle pattern in creation, I see potential for further downside movement.
Watch for the potential selling opportunities with the downside objective at the price of $1.622.
MACD oscillator is showing weak buying power and potential for further downside movement.
Key resistance is set at the price of $1.667
Relevance up to 09:00 2022-10-26 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
