FX.co - Analysis of Gold for September 10,.2021 - Bear flag in creation and potential for drop towards $1.776

2021-09-10T11:18:50

Relevance until2021-09-11

Technical analysis:

Analysis of Gold for September 10,.2021 - Bear flag in creation and potential for drop towards $1.776

Gold has been trading upside in last 24 hours but I see more downside potential and potential for test of $1,776and $1,760

Trading recommendation:

Dee to the downside trend in the background and bear flag pattern in creation, watch for selling opportunities on the intraday rallies.

Downside targets are set at $1,776and $1,760

Stochastic oscillator is showing bear potential and extreme reading on hourly and 4H time frame.

*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 10,.2021 - Bear flag in creation and potential for drop towards $1.776