04.05.202114:02 Forex Analysis & Reviews: Analysis of Gold for May 04,.2021 - Sellers in control and potential for test of $1.775

Further Development

Exchange Rates 04.05.2021 analysis

Analyzing the current trading chart of Gold, I found that sellers are in control and that there is still space for more downside and test of lower reference points.

My advice is to watch for selling opportunities on the rallies using the intraday charts.

The downside targets are set at the price of $1.775, $1.765 and $1.758.

Additionally, there is the fresh bear cross on the Stochastic oscillator and the overbought condition, which is another sign of weakens..Resistance: $1.796

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert
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