FX.co ★ Analysis of Gold for September 13, 2023 - Breakout of the channel in the background

Technical analysis:

Gold has been trading downside as I expected and there I see chance for further drop

Due to the breakout of the of the channel in the background and the short-term downside trend, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $1.902 and $1.893

MACD oscillator is showing negative reading, which is good sign that sellers are in control....

Key resistance is set at the price of $1.915