FX.co - Analysis of Gold for April 28,.2022 - Potential for the downside continuation

2022-04-28T12:15:17

Relevance until2022-04-29

Technical analysis:

Analysis of Gold for April 28,.2022 - Potential for the downside continuation

Gold has been trading downside in the background and I see potential for the downside continuation.

Trading recommendation:

Due to the breakout of the bear flag in the background, I see potential for the downside continuation of the short-term trend.

Watch for potential selling opportunities the intraday rallies with the downside objective at $1.850 and $1.820.

MACD oscillator is showing strong downside momentum, which is another confirmation that sellers are in control.

Key resistance is set at the price of $1.890

*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 28,.2022 - Potential for the downside continuation