FX.co ★ Analysis of Gold for May 24,.2022 - Potential for the downside movement due to extreme upside condition

Technical analysis:

Gold has been trading upwards but there is key short term resistance at the price of $1.865. Watch for potential downside rotation towards lower references.

Trading recommendation:

Due to the upside downside in the background and potential for the completion of the upside correction, watch for downside opportunities.

Watch for potential selling opportunities on the intraday pullbacks.

Downside objective is set at $1.836

Key resistance is set at the price of $1.865