FX.co ★ Analysis of Gold for September 13,.2022 - Rising wedge pattern in creation

Technical analysis:

Gold has been trading sideways today at the price of $1.722 but I see potential for further downside movement due to the rising wedge pattern.

Trading recommendation:

Due to the rising wedge pattern in creation and the short-term downside trend, I see potential for the downside movement.

Watch for the selling opportunities in case of the downside breakout of the rising wedge pattern.

Stochatic oscillator is showing fresh bear cross, which can be good sign for the further downside movement.

Key resistance is set at the price of $1.733