FX.co ★ Analysis of Gold for September 18, 2023 - Potential for the further downside movement

Technical analysis:

Gold has been trading upisde in the background but I found test and reject of the key resistance level at $1.930, which is good sign for the further downside movement.

Due to rejection of the resistance level and the downside trend, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $1.914 and $1.903

RSI oscillator is showing hidden bearish divergence, which is good sign for the further downside movement.

Key resistance is set at the price of $1.930