FX.co ★ Analysis of Gold for April 29,.2022 - Key resistane at the price of $1.918 on the test

Technical analysis:

Gold has been trading upside today but I see strong resistance at the price of $1.917. Potential for the downside rotation till end of the day.

Trading recommendation:

Due to the test of the strong short-term resistance at the price of $1.917, I see potential for the downside continuation.

Watch for potential selling opportunities the intraday rallies with the downside objectives at $1.883 and $1.873.

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

Stochastic is showing overbought condition, which is sign that Gold might rotation downside.

Key resistance is set at the price of $1,917