FX.co - Analysis of Gold for April 15,.2022 - Breakout of upside channel in the background

2022-04-15T11:23:20

Relevance until2022-04-16

Technical analysis:

Analysis of Gold for April 15,.2022 - Breakout of upside channel in the background

Gold has been trading downside yesterday and there is the breakout of the rising channel. I see potential for further downside movement.

Trading recommendation:

Due to the breakout of rising channel in the background, I see potential for further drop.

Watch for selling opportunities on the rallies with the downside objectives at 1$1.950 and $1.940.

Resistance is set at the price of $1.980

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for April 15,.2022 - Breakout of upside channel in the background