FX.co ★ Analysis of Gold for March 15,.2023 - Potential for further drop towards lower references

Technical analysis:

Gold has been trading sideways at the price of $1.900 but I see strong resistance zone at $1.915 and the breakout of the mini range.

Due to the extreme condition on Gold and the breakout of the mini sideways range, I see potential for the further drop towards lower references.

Downside objective is set at the price of $1.870

Stochastic oscillator is showing extreme condition and fresh downside cross, which is another good sign for the further downside movement.

Key resistance is set at the price of $1.914