FX.co ★ Analysis of Gold for September 05,.2022 - Potential for the downside rotation

Technical analysis:

Gold has been trading sideways today at the price of $1.712/ I see potential for further downside rotation.

Trading recommendation:

Gold is still trading in the bigger downside channel and I see potential for the downside movement.

Watch for the selling opportunities with the downside objective at the price of $1.691.

Stochatic oscillator is showing fresh downside cross from the overbought zone, which can be good sign for the further downside rotation.

Key resistance is set at the price of $1.720