FX.co ★ Analysis of Gold for April 06,.2022 - Potential downside continuation in the play

Technical analysis:

Gold has been trading sideways at the price of $1.925 and I see potential for the downside movement in the next period.

Trading recommendation:

Due to potential bear flag in creation and the second downside leg, I see potential for the drop.

Watch for potential selling opportunities with the downside objectives at $1.915 and $1.905.

Stochastic is showing fresh bear cross, which is another sign for the potential downside movement.

Key resistance is set at the price of $1.933