Gold Technical Analysis: Potential Downside Momentum After Resistance Test-Reject at $1,923

Technical analysis:

Technical analysis:

Gold has been trading upside this morning but I found test and reject of the important resistance at $1.923, which is good sign for the downside rotation.

Due to the market extended condition in last 2 days and test-reject of the important resistance cluster, I see potential for the further downside movement towards lower reference.

Downside objective is set at the price of $1.914-$1.910 Stochastic oscillator is showing fresh downside cross and overbought condition, which is another good sign for the further downside movement.

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Key resistance is set at the price of $1.923

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gold technical analysis stochastic oscillator upside movement downside movement overbought condition lower reference key resistance downside objective resistance test-reject downside rotation market condition resistance cluster

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Technical analysis:

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