Analysis of Gold for September 25, 2023 – Potential for the further drop
September 25, 2023 9:26 am
Technical analysis:
Gold has been trading downside as I expected. The market rejected of the key resistance cluster at $1.929 and there is potential for the further drop.
Due to the short-term downside trend and the rejection of the key resistance in the background, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.913 and $1.901
Stochastic oscillator is showing fresh hidden bearish divergence, which is good sign for the further downside movement.
Key resistance is set at the price of $1.929
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
as I expected. The market rejected of the key resistance cluster at
$1.929 and there is potential for the further drop.
Due
to the short-term downside trend and the rejection of the key
resistance in the background, I see potential for the further drop
towards lower references.
Downside
objectives
are set at the price of $1.913 and $1.901
Stochastic
oscillator is showing fresh hidden
bearish divergence, which is good sign for the further downside
movement.
Key
resistance is set at the price of $1.929
The material has been provided by InstaForex Company – www.instaforex.com
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