Analysis of Gold for March 07,.2023 – Rejection of the key resistance zone in the background
March 7, 2023 8:24 am
Technical analysis:
Gold has been trading sideways at the price of $1.848 but I saw the rejection of the Fibonacci resistance confluence at $1.860, which is good sign for the further downside movement.
Due to the rejection of the resistance zone and the downside cycle in the background, I see potential for the further drop.
Downside objective is set at the price of $1.810
Stochastic and MACD oscillators is showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $1.860
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading sideways
at the price of $1.848 but I saw the rejection of the Fibonacci
resistance confluence at $1.860, which is good sign for the further
downside movement.
Due
to the rejection of the resistance zone and the downside cycle in the
background, I see potential for the further drop.
Downside
objective is set at the price of $1.810
Stochastic
and
MACD
oscillators
is showing fresh downside cross, which is another good sign for the
further downside movement.
Key
resistance is set at the price of $1.860
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: