FX.co ★ Analysis of Gold for September 17,.2021 - Potential for anothere drop towards $1.730

Technical analysis:

Gold has been trading upside during the overnight session but I see potential for the downside continuation. Downside opportunities are preferable.

Trading recommendation:

Due to strong downside momentum in the background and the breakout of there bearish flag pattern I see potential for the further drop.

Watch for selling opportunities on the rallies with the downside targets at $1,747 and $1,730.

Stochastic is showing fresh bear cross and the bear divergence in the background, which is another sign and confirmation for the downside continuation.

Resistance is set at the price of $1,765