FX.co ★ Analysis of Gold for October 27,.2021 - Breakout of the rising trendline

Technical analysis:

Gold has been trading downside in last 24 hours and I see potential for the further drop. There is the breakout of the rising trend line and potential for the downside continuation.

Trading recommendation:

Due to the breakout of the rising treeline in the background, I see potential for the downside continuation.

Watch for selling opportunities with the downside targets at $1,776 and $1,761.

Stochastic is showing bear condition and potential for continuation.

Resistance is set at $1,794