FX.co - Analysis of Gold for April 04, 2023 - Potential for the downside rotation

2023-04-04T05:59:06

Relevance until2023-04-05

Technical analysis:

Analysis of Gold for April 04, 2023 - Potential for the downside rotation

Gold has been trading sideways at the price of $1.978 in the defined trading range. I see potential for the downside rotation.

Due to the rejection of the key resistance zone at $1.990, I see potential for the downside rotation towards lower extreme of the trading range.

Downside objective is set at the price of $1.950

Key resistance is set a the price of $2.000

*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 April 04, 2023 - Potential for the downside rotation