FX.co ★ Analysis of Gold for September 15, 2023 - Potential for the further downside movement

Technical analysis:

Gold has been trading upside this morning but I found test of the key resistance zone at $1.920 and potential for the further downside movement.

Due to the short-term downside trend and the test of of the key resistance, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $1.902 and $1.886

RSI oscillator is showing hidden bearish divergence in creation, which is sign that we might see further downside movement.

Key resistance is set at the price of $1.920