FX.co ★ Analysis of Gold for April 04,.2022 - Downside potential towards $1.900

Technical analysis:

Gold has been trading sideways today at the price of $1.928 but I see potential for further downside movement.

Trading recommendation:

Due to te completed ABC upside correction in the background, I see potential for the downside continuation.

Watch for potential selling opportunities on the rallies with the downside objectives at $1.902 and $1.892.

Stochastic is showing fresh bull cross but MACD is showing negative reading, which is overall sign of indecision.

Resistance is set at the price of $1.947