FX.co ★ BTC update for April 28,.2022 - Watch for downside breakout of the channel

Technical analysis:

Gold has been trading upside but in well defined upside channel, which is in my opinion corrective in nature.

Trading recommendation:

Due to the potential end of the upside correction, I see space for further downside movement.

Watch for potential selling opportunities on the intraday rallies with the downside objectives set at $38.580 and $37.800.

Stochastic oscillator is showing fresh bear cross, which is sign that there potential for the downside rotation.

Key resistance is set at the price of $40.600