FX.co - Analysis of Gold for October 26,.2021 - Breakout of the rising trendline

2021-10-26T13:12:08

Relevance until2021-10-27

Technical analysis:

Analysis of Gold for October 26,.2021 - Breakout of the rising trendline

Gold has been trading downside as I expected. There is the breakout of the rising trend line in the background.

Trading recommendation:

Due to the breakout of the rising trend line in the background, I see potential for the downside movement towards the downside references.

Watch for selling opportunities on the rallies with the downside targets at $1,792 and $1,783.

There is the massive supply in the background and major resistance is set at $1,814

*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 26,.2021 - Breakout of the rising trendline