FX.co ★ Analysis of Gold for May 19,.2022 - Potential for the drop towards lower references

Technical analysis:

Gold been trading upside this morning but I see potential for the downside rotation due to extreme condition and potential completion of the ABC upside correction.

Trading recommendation:

Due to the the potential completion of the ABC upside correction, watch for selling opportunities..

Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.809 and $1.790.

Stochastic is showing extreme condition and fresh bear cross, which is sign for the further downside movement.

Key resistance is set at $1.856