Analysis of Gold for February 21,.2023 – Downside objective has been reached, potential for further downside movement
February 21, 2023 10:23 am
Technical analysis:
Gold has been trading downside as I expected and the price has reached my first downside objective. There is chance for the test of the next downside objective.
Trading recommendation:
Due to the downside trend condition and strong downside momentum, I see potential for the further downside movement.
Next downside objective is set at $1.820
MACD oscillator is showing fresh downside reading, which is good sign that sellers are in control.
Key resistance zone is set at $1.845
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
as
I expected and the price has reached my first downside objective.
There is chance for the test of the next downside objective.
Trading
recommendation:
Due
to the downside trend condition and strong downside momentum, I see
potential for the further downside movement.
Next
downside objective is set at $1.820
MACD
oscillator is showing fresh downside reading, which is good sign that
sellers are in control.
Key
resistance zone is set at $1.845
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: