Analysis of Gold for September 28, 2023 – Potential for the further drop
September 28, 2023 9:23 am
Technical analysis:
Gold has been trading downside in the background as I expected and the price reached downside objective at $1.884 but I see potential for the further drop.
Due to the strong downside momentum and the bear trend , I see potetnial for the further drop towards lower references.
Next downside objective is set at the price of $1.860
RSI Oscillator is showing downside trend and hidden bearish divergence, which is good sign for the further downside movement.
Intraday resistance is set at the price of $1.877
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside in
the background as I expected and the price reached downside objective
at $1.884 but I see potential for the further drop.
Due
to the strong downside momentum and the bear trend , I see potetnial
for the further drop towards lower references.
Next
downside objective is set at the price of $1.860
RSI
Oscillator is showing downside trend and hidden bearish divergence,
which is good sign for the further downside movement.
Intraday
resistance is set at the price of $1.877
The material has been provided by InstaForex Company – www.instaforex.com
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