Gold Has Potential For The Downside Movement| FXMAG.COM

Technical analysis:
Trading recommendation:

Technical analysis:

gold has potential for the downside movement grafika numer 1

Gold has been trading sideways at the price of $1.663. Anyway, I see that market didn't have power to break the key supply zone at $1.675 and that there is potential for the downside movement.

Trading recommendation:

Due to the rejection of the supply zone in the background, I see potential for the downside movement.

Watch for the potential selling opportunities on the rallies with the downside objective at the price of $1.643.

Stochastic oscillator had bearish divergence in the background, which is good sign that sellers are again active.

Key resistance zone is set at the price of $1.673-$1.687

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Relevance up to 08:00 2022-10-04 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.

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