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15.09.202209:33 Forex Analysis & Reviews: Analysis of Gold for September 15,.2022 - Strong dowmsnide momentum and potential for bigger drop

Technical analysis:

Exchange Rates 15.09.2022 analysis

Gold has been trading downside as I expected. I found that downside momentum is still strong and there is potential for bigger drop.

Trading recommendation:

Due to the strong downside momentum and potential test of major support cluster at $1.680, I see further downside movement.

Watch for the selling opportunities with the downside objective at the price of $1.575.

Stochastic oscillator is showing fresh downside cross, which is good sign that sellers are in control.

Key resistance is set at the price of $1.729

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2024
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