FX.co - Analysis of Gold for September 22,.2021 - Second downside leg in creation

2021-09-22T11:34:57

Relevance until2021-09-23

Technical analysis:

Analysis of Gold for September 22,.2021 - Second downside leg in creation

Gold has been trading downside in past 6 hours and I see that second downside leg is in creation.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside target at $1,767

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

Key short-term resistance is set at $1,781

*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 22,.2021 - Second downside leg in creation