Analysis of Gold for September 18, 2023 – Potential for the further downside movement
September 18, 2023 12:27 pm
Technical analysis:
Gold has been trading upisde in the background but I found test and reject of the key resistance level at $1.930, which is good sign for the further downside movement.
Due to rejection of the resistance level and the downside trend, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.914 and $1.903
RSI oscillator is showing hidden bearish divergence, which is good sign for the further downside movement.
Key resistance is set at the price of $1.930
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upisde
in the background but I found test and reject of the key resistance
level at $1.930, which is good sign for the further downside movement.
Due
to rejection of the resistance level and the downside trend, I see
potential for the further drop towards lower references.
Downside
objectives are set at the price of $1.914 and $1.903
RSI
oscillator is showing hidden
bearish divergence, which is good sign for the further downside
movement.
Key
resistance is set at the price of $1.930
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: