FX.co ★ Analysis of Gold for April 01,.2022 - Potential for bigger drop

Technical analysis:

Gold has been trading downside today and there is the breakout of the rising trend line

Trading recommendation:

Due to rejection of the upper trend-line and strong supply today, I see potential for downside continuation.

Watch for potential selling opportunities on the rallies with the downside objectives at the price of $1.897 and $1.881.

Stochastic is showing bearish divergence in the background and bear cross, which is another sign for the downside movement.

Resistance is set at the price of $1.947