FX.co ★ Analysis of Gold for February 03,.2022 - Rejection of key resistance at $1.810

Technical analysis:

Gold has been trading downside today and I see potential for further drop towards downside reference points.

Trading recommendation:

Due to rejection of the key short-term resistance at the price of $1,810, I see potential for the downside rotation and test or lower reference points.

Watch for selling opportunities with the downside objectives at $1,795 and $1,780

There is strong downside momentum in the background, which is another sign of weakness.