FX.co ★ Analysis of Gold for March 28,.2022 - First downside objective reached, potential for another drop

Technical analysis:

Gold has been trading downside today as I expected. Gold reached the first downside objective at $1.939 and I still see potential for further downside movement.

Trading recommendation:

Due to potential completion of the ABC structure in the background, Is ee potential for the downside continuation.

Watch for selling opportunities on the intraday rallies.

Next downside objective is set at the price of $1.910.

Stochastic is showing oversold condition but with no evidence for the reversal.

Resistance level set at the price of $1.964