Analysis of Gold for September 21, 2023 – Breakout of the support and potential for the further drop
September 21, 2023 9:22 am
Technical analysis:
Gold has been trading downside as I expected and I found fake breakout of the resistance in the background and breakout of the rising channel, which is good sign for the further drop.
Due to the breakout of the rising channel and the short-term downside trend, I see potential for the further drop towards lower references,.
Downside objectives are set at the price of $1.908 and $1.901
RSI oscillator had bearish divergences in the background, which is good sign for the further downside movement.
Key intraday 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 downside
as I expected and I found fake breakout of the resistance in the
background and breakout of the rising channel, which is good sign for
the further drop.
Due
to the breakout of the rising channel and the short-term downside
trend, I see potential for the further drop towards lower
references,.
Downside
objectives
are set at the price of $1.908 and $1.901
RSI
oscillator had bearish divergences in the background, which is good
sign for the further downside movement.
Key
intraday
resistance is set at the price of $1.930
The material has been provided by InstaForex Company – www.instaforex.com
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