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Gold has been trading downside this morning and I found breakout fo the multi hour range to the downside, which is sign for the further drop.
Due to the breakout fo the mini trading range and climax upside day from yesterday, I see potential for the downside rotation towards lower references.
Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of $1.653.
Stochastic oscillator is showing downside momentum, which is strong sign that sellers are in control.
Key resistance is set at the price of $1.681
Relevance up to 08:00 2022-11-08 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.
