FX.co - Analysis of Gold for September 09,.2021 - Watch for selling opportunities around key bear zone

9 September 2021 at 12:07PM (UTC+0)

Relevance until10 September 2021 at 12:07PM (UTC+0)

Technical analysis:

Analysis of Gold for September 09,.2021 - Watch for selling opportunities around key bear zone

Gold has been trading upside this morning but the key resistance zone at the price of $1,800-$1,805 is on the test.

Trading recommendation:

Due to teest of major supply zone in the background, my advice is to watch for potential several pattern to confirm further downside rotation.

Downside targets are set at the price of $1,795 and $1,787

Stochastic oscillator is in overbought zone, which is another sign that intraday market is on extreme.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for September 09,.2021 - Watch for selling opportunities around key bear zone