FX.co - Analysis of Gold for October 17,.2022 - Sideways condiiton but key resistaces set at $1660-$1.670

2022-10-17T07:16:44

Relevance until2022-10-18

Technical analysis:

Analysis of Gold for October 17,.2022 - Sideways condiiton but key resistaces set at $1660-$1.670

Gold has been trading sideways at the price of $1.652. Watch for the price action around key pivot points to confirm further direction.

Trading recommendation:

Due to sideways condition watch for the price action around reference levels at $1.660 and $1.671 to confirm further direction,.

In case of the of the rejection of ressitance at $1660-1.670, watch for selling opportunities with the downside objective at $1.640

In case of the breakout of the $1.671, watch for buying opportunities towards $1.681

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for October 17,.2022 - Sideways condiiton but key resistaces set at $1660-$1.670