FX.co - Analysis of Gold for October 18,.2021 - Potential for further downside continuation towards $1.749

2021-10-18T11:33:46

Relevance until2021-10-19

Technical analysis:

Analysis of Gold for October 18,.2021 - Potential for further downside continuation towards $1.749

Gold has been trading downside as I expected. There was reversion to the mean towards $1,763.

Trading recommendation:

Since the sellers are still in control and thee price did back into previous TR, I see potential for the downside movement.

Watch for selling opportunities with the downside targets at $1,749 and $1,723

Stochastic oscillator still showing downside pressure.

*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 18,.2021 - Potential for further downside continuation towards $1.749