Want To Sell An Ounce Of Gold? Gold Price Technical Analysis

XAUUSD - Technical analysis:

XAUUSD - Technical analysis:

Gold has been trading upside this morning on Europe session but I see potential for the downside continuation of the trend.

Trading recommendation:

Due to the strong downside trend in the background and overbought condition this morning, I see further downside movement. Watch for potential selling opportunities on the rallies with the downside objective at the price of $1.712. Stochastic oscillator is showing fresh bear cross and overbought condition, which is good sign for further downside movement. Resistance is set at the price of $1.730

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Relevance up to 14:00 2022-08-30 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.

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