FX.co ★ Analysis of Gold for February 27,.2023 - Upside correction in the progress

Technical analysis:

Gold has been trading downside as I expected and the price has reached Friday's objective at $1.810. Anyway, Gold is in the upside correction this morning and the key intraday resistance is set at $1.819-$1.820.

Upside correction is in progress and pay attention to the key resistance zone to confirm further direction.

Rejection of the key resistance zone may indicate further downside continuation.

Stochastic and MACD oscillators are showing upside reading and that is another confirmation that upside correction is in progress.

In case of the further downside movement without testing the key resistance, next downside objective is set at $1.780