FX.co ★ Analysis of Gold for April 26,.2022 - Potential for the downside continuation

Technical analysis:

Gold has been trading upside this morning but I see potential for the downside movement till end of the day.

Trading recommendation:

Due to the strong downside cycle in the background and test of the resistance area, I see potential for the downside continuation.

Watch for potential selling opportunities with the downside objectives at $1.891 and $1.880.

Stochastic oscillator is showing overbought condition and fresh bear cross, which is sign that downside movement can be in the play.

Resistance level is set at the price of $1.913