Gold Is Expected The Further Downside Movement
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Technical analysis:
Gold has been trading upside during the Asia session but I saw rejection of the key resistance zone at the price of $1.809, which is good sign for the further downside movement.
Trading recommendation:
Due to the test-reject of the key resistance zone, I see potential for the further downside movement towards lower references.
Watch for the potential selling opportunities with the downside objective at $1.798.
Stochastic oscillator is showing fresh bear cross, which is another sign for the further downside movement.
Key resistance is set at the price of $1.809
Relevance up to 09:00 2022-12-30 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.
