FX.co ★ Analysis of Gold for May 05,.2022 - Potential for the downside rotation

Technical analysis:

Gold is trading at the key resistance at the price of $1.900 and there is potential for the downside rotation.

Trading recommendation:

Due to the test of key resistance at the price of $1.900 i See potential for the downside rotation.

Watch for potential selling opportunities on the intraday rallies with the objective at $1.863

Stochastic oscillator is showing overbought condition, which is sign that there is potential for the downside rotation.

Key resistance is set at the price of $1.900