Technical analysis:
Gold has been trading upside yesterday and the market reached our main upside target at $1.666 and then got big rejection towards lower references.Due to big rejection in the background there is potential for further drop on the Gold...
Trading recommendation:
Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of $1.616.
MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.
Short-term resistance is set at the price of $1.638
Relevance up to 08:00 2022-11-04 UTC+1 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.