FX.co - Analysis of Gold for March 17,.2023 - Extreme bullish condiiton, potential for the downside movement

2023-03-17T08:38:20

Relevance until2023-03-18

Technical analysis:

Analysis of Gold for March 17,.2023 - Extreme bullish condiiton, potential for the downside movement

Gold has been trading upside this morning and I see key resistance level at the price of $1.936 is on the test.

Due to the extreme upside condition and bear regime on the MACD oscillator, I see potential for the downside movement.

Downside objectives-are set at $1.910, $1.890 and $1.865

MACD oscillator is showing fresh bear regime, which is another sign for potential downside movement.

Key resistance is set at the price of $1.936

*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 March 17,.2023 - Extreme bullish condiiton, potential for the downside movement