FX.co - Analysis of Gold for October 05,.2021 - Downside movement expect towards $1.748

5 October 2021 at 11:15AM (UTC+0)

Relevance until6 October 2021 at 11:15AM (UTC+0)

Technical analysis:

Analysis of Gold for October 05,.2021 - Downside movement expect towards $1.748

Gold has been trading downside most recently. I expect further downside movement towards $1,748 and $1,723

Trading recommendation:

Watch for selling opportunities on thee intraday rally with the downside objectives at $1,748 and $1,723.

Stochastic is showing bearish divergence and fresh bear cross, which is good sign for further downside continuation.

Resistance is set at the price of $1,769

*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 October 05,.2021 - Downside movement expect towards $1.748