Analysis of Gold for October 05 , 2023 – Rejection of the resistance cluster
October 5, 2023 9:25 am
Technical analysis:
Gold has been trading downside this morning and I found rejection of the key resistance cluster at the price of $1.830 in the background, which is good isgn for the further downside movement.
Due to the rejection of the resistance cluster and strong downside trend in the background, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $1.802
RSI oscillator is showing fresh hidden bearish divergence, which is good sign for the further downside movement.
Key resistance is set at the price of $1.830
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside this
morning and I found rejection of the key resistance cluster at the
price of $1.830 in the background, which is good isgn for the further
downside movement.
Due
to the rejection of the resistance
cluster and strong downside trend in the background, I see potential
for the further drop towards lower reference.
Downside
objective is
set at the price of $1.802
RSI
oscillator is showing fresh hidden bearish divergence, which is good
sign for the further downside movement.
Key
resistance is set at the price of $1.830
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: