FX.co ★ Analysis of Gold for July 28,.2022 - Potential for the downside rotation

Technical analysis:

Gold has been trading upside today but the key pivot resistance on the test at $1.746. Watch for the price action around key pivot level to confirm further direction...

Trading recommendation:

Due to test of the resistance there is potential for the downside rotation.

Watch for potential downside rotation with the downside objective at $1.715.

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

Key resistance is set at the price of $1.750