15.10.202113:46 Forex Analysis & Reviews: Analysis of Gold for October 15,.2021 - Sellers in control and potential for drop towards $1.758

Technical analysis:

Exchange Rates 15.10.2021 analysis

Gold has been trading downside due to overbought condition and I see further downside movement towards $1,758

Trading recommendation:

Due to potential absorption of the buying climax in the background, my advice is to watch for selling opportunities on the rallies.

Downside target is set at $1,758

Stochastic did showing bearish divergences in the background, which is good sign for further downside movement.

Resistance is set at $1,800

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

Petar Jacimovic,
Analytical expert of InstaForex
© 2007-2022
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