Analysis of Gold for October 03, 2023 – Potential for the further drop
October 3, 2023 9:27 am
Technical analysis:
Gold has been trading downside as I expected in the background but this morning I found weak rally, which is sign for the potential downside continuation.
Due to the strong downside trend in the background and negative reversal on the RSI oscillator, I see potential for the further downside movement towards lower reference.
Downside objective is set at the price of $1.815
RSI oscillator is showing negative reversal, which is good sign for further downside movement.
Intraday resistance levels are set at the price of $1.827 and $1.835
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
as I expected in the background but this morning I found weak rally,
which is sign for the potential downside continuation.
Due
to the strong downside trend in the background and negative reversal
on the RSI oscillator, I see potential for the further downside
movement towards lower reference.
Downside
objective is set at the price of $1.815
RSI
oscillator is showing negative
reversal, which is good sign for further downside movement.
Intraday
resistance levels are set at the price of $1.827 and $1.835
The material has been provided by InstaForex Company – www.instaforex.com
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