Analysis of Gold for March 02,.2023 – Potential for the further downside movement
March 2, 2023 9:22 am
Technical analysis:
Gold has been trading downside this morning and I found the rejection of the Fibonacci confluence at the price of $1.845.
Due to the rejection of the Fibonacci confluence in the background and the fresh crosses on the MACD and Stochastic, I see potential for the further downside movement towards lower references.
Downside objectives are set at $1.805 and $1.780
Stochastic and MACD oscillators are showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $1.845
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
this morning and I found the rejection of the Fibonacci confluence
at the price of $1.845.
Due
to the rejection
of the Fibonacci confluence in the background and the fresh crosses on
the MACD and Stochastic, I see potential for the further downside
movement towards lower references.
Downside objectives are
set at $1.805 and $1.780
Stochastic
and
MACD oscillators
are
showing fresh downside cross, which is another good sign for the
further downside movement.
Key
resistance is set at the price of $1.845
The material has been provided by InstaForex Company – www.instaforex.com
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