FX.co ★ Analysis of Gold for May 26,.2021 - Exhastion for the buyers and potential for the drop towards $1.890

Technical analysis:

GOld has been trading upwards at $1.905 but I found sings of exhaustion. Watch for the downside breakout of the tight upside channel to confirm further drop.

Trading recommendation:

Watch for potential selling opportunities in case of the breakout of the tight upside channel. THe downside target is set at the price of $1.890.

Stocahstic oscillator is showing overbought condition and fresh bear cross, which is sign for the downside movement and potential drop.