FX.co ★ Analysis for Gold March 02, 2022 - Key daly pivot at $1.950

Trading reccomendation:

Based on the 1H time-frame, I found that there is the lack of buying power for re-test of swing high at $1.950, which is sign for potential downside movement.

Watch for selling opportunities with the downside objectives are set at $1.896 and $1.878.

Stochastic oscillator is showing negative reading, which is another sign for the downside movement.

Key resistance is set at the price of $1.950

Second scenario in the case of the upside breakout of the $1.950 is to watch for upside opportunities with objective at $1.970