FX.co ★ Analysis of Gold for March 10,.2023 - Potential for further drop towards lower references

Technical analysis:

Gold has been trading upside but I found that price has reached important intraday resistance Fibonacci at $1.835/40 and there is chance for the further downside movement.

Due to the longer-term downside trend and the rejection of the Fibonacci, I see potential for the further downside movement.

Downside objectives are set at $1.805 and $1.770

DPO oscillator is showing extreme bull reading and potential for the downside rotation....

Key resistance is set at the price of $1.835/40