FX.co - Analysis of Gold for October 06,.2021 - Potential for the downside continuation

2021-10-06T11:57:30

Relevance until2021-10-07

Technical analysis:

Analysis of Gold for October 06,.2021 - Potential for the downside continuation

Gold has been trading upside this morning but I see potential for the downside continuation towards $1,745.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside target at the price of $1,745.

Supply trend line is control and the trend is bearish.

Stochastic oscillator is showing bull condition but close to extreme reading.

Key resistance is set at the price of $1,763

*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 06,.2021 - Potential for the downside continuation