FX.co - Analysis of Gold for September 30,.2021 - Downside continuation in the play

2021-09-30T11:31:51

Relevance until2021-10-01

Technical analysis:

Analysis of Gold for September 30,.2021 - Downside continuation in the play

Gold has been trading downside as I expected. Sellers are in control and I expect further downside continuation.

Trading recommendation:

Watch for potential selling opportunities on the rallies due to strong bear pressure.

Downside targets are set at $1,717 and $,685 (pinbar zone).

Stochastic is showing extreme downside condition and bear reading, which is another sign and confirmation for the downside continuation.

Resistance is set at $1,738

*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 30,.2021 - Downside continuation in the play