FX.co ★ Analysis of Gold for July 14,.2022 - Strong downside condiiton

Technical analysis:

Gold has been trading downside in the background and there is the downside continuation of the bear trend, which is sign that sellers opportunities are preferable.

Trading recommendation:

Due to the strong short-term downside cycle, I see potential for further drop towards next important reference point.

Watch for potential selling opportunities on the intraday rallies with the downside objective at $1.675.

MACD is showing strong downside pressure, which is good sign for further downside continuation.

Short-term resistance is set at the price of $1.743