FX.co ★ Analysis of Gold for August 09,.2021 - Major pivot reached at $1.43 and potetnial for potetnial re-sell

Technical analysis:

Gold has been trading downside and the price tested and rejected of the main pivot at $1,643. There is still strong downside condiiton with no signs for reversal.

Trading recommendation:

Watch for selling opportunities on the rallies with the targets at $1,643 and $1,540.

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Resistance is set at $1,767