Relevance up to 10:00 2022-08-18 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 downside and there is the breakout of the sideways range, which is sign that sellers are in control. Trading recommendation: Due to the breakout of the rising trend-line and sideways range, I see potetnial for further drop towards lower reference points. Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.759 and $1.738. Stochastic oscillator is showing downside momentum with no signs for the reversal. Key resistance is set at the price of $1.800
