FX.co - Analysis of Gold for February 18,.2022 - Watch for downside rotation on the Gold

2022-02-18T14:00:46

Relevance until2022-02-19

Technical analysis:

Analysis of Gold for February 18,.2022 - Watch for downside rotation on the Gold

Gold has been trading upside this morning but I see potential for the downside correction towards lower references.

Trading recommendation:

Due to potential overbought condition and extreme high reading, I see potential for the downside correction and rotation.

My advice is to watch for selling opportunities with the downside objectives at $1,886 and $1,879.

Resistance is set at the price of $1,901

*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 February 18,.2022 - Watch for downside rotation on the Gold