FX.co ★ Analysis of Gold for February 15,.2022 - Strong downside momentum and potential for test of $1.820

Technical analysis:

Gold has been trading upside yesterday and the price reached my upside objective at $1,878. Anyway, today there is the big drop with good volume and I see downside continuation.

Trading recommendation:

Due to strong downside momentum in the background and rejection of key resistance at $1,878, I see potential for the downside movement to continue.

Watch for the bear opportunities with the downside objectives at $1,840 and $1,820

Intraday resistance is set at the price of $1,850