FX.co - Analysis of Gold for October 21,.2021 - Potential for the downside continuation

2021-10-21T11:33:59

Relevance until2021-10-22

Technical analysis:

Analysis of Gold for October 21,.2021 - Potential for the downside continuation

Gold has been trading downside this morning and I see potential for further drop towards lower levels.

Trading recommendation:

Watch for selling opportunities on the rallies due to upside exhaustion and price above value.

Downside targets are set at the price of $1,768 and $1,760

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

Key resistance is set at $1,789

*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 21,.2021 - Potential for the downside continuation