FX.co - Analysis of Gold for May 11,.2022 - Key resistance at the price of $1.853 on the test

2022-05-11T11:28:42

Relevance until2022-05-12

Technical analysis:

Analysis of Gold for May 11,.2022 - Key resistance at the price of $1.853 on the test

Gold has been trading upside this morning and the price is testing key resistance at $1.853. Watch for potential downside rotation.

Trading recommendation:

Due to the test of key resistance at the price of $1.853, watch for potential selling opportunities.

Downside objective are set at the price of $1.836 and $1.832.

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

Key resistance is set at the price of $1.855

*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 May 11,.2022 - Key resistance at the price of $1.853 on the test