Analysis of Gold for September 26, 2023 – Potential for the further drop
September 26, 2023 8:26 am
Technical analysis:
Gold has been trading downside as I expected and the price has reached first objective at $1.913. Anyway, sellers are in control and I see potential for the further downside movement.
Due to the rejection of the resistance in the background and breakout of the support, I see potential for the further drop towards next downside reference.
Downside objective is set at the price of $1.900
RSI oscillator is showing downside trend condition, which is good sign for the further downside movement.
Intraday resistance is set at the price of $1.913
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside as
I expected and the price has reached first objective at $1.913.
Anyway, sellers are in control and I see potential for the further
downside movement.
Due
to the rejection of
the resistance in the background and breakout of the support, I see
potential for the further drop towards next downside reference.
Downside objective
is set at the price of $1.900
RSI
oscillator is
showing downside trend condition, which is good sign for the further
downside movement.
Intraday
resistance is set at the price of $1.913
The material has been provided by InstaForex Company – www.instaforex.com
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