Gold Is Showing A Good Sign For Further Drop
Aa
Share
Technical analysis:
Gold has been trading downside in the background and I found the breakout of the bear flag pattern to the downside, which is good sign for further drop.
Trading recommendation:
Due to the breakout of the bear flag pattern and downside regime in last few days, I see potential for the further drop.
Read next: UK Economy Suggest That Inflation Will Drop| FXMAG.COM
Watch for the potential selling opportunities with the downside objectives at $1.830 and $1.795.
Fast Stochastic oscillator is showing fresh bear cross, which is good sign for the further downside movement..
Key resistance is set at the price of $1.885
Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
