27.10.202113:33 Forex Analysis & Reviews: Analysis of Gold for October 27,.2021 - Breakout of the rising trendline

Technical analysis:

Exchange Rates 27.10.2021 analysis

Gold has been trading downside in last 24 hours and I see potential for the further drop. There is the breakout of the rising trend line and potential for the downside continuation.

Trading recommendation:

Due to the breakout of the rising treeline in the background, I see potential for the downside continuation.

Watch for selling opportunities with the downside targets at $1,776 and $1,761.

Stochastic is showing bear condition and potential for continuation.

Resistance is set at $1,794

*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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