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FX.co ★ Analysis of Gold for September 08,.2021 - Bear flag in creation and potential for drop towards $1.785

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Forex Analysis:::2021-09-08T12:27:04

Analysis of Gold for September 08,.2021 - Bear flag in creation and potential for drop towards $1.785

Technical analysis:

Analysis of Gold for September 08,.2021 - Bear flag in creation and potential for drop towards $1.785

Gold has been trading upside but with slow tempo in the downside cycle, which is good sign for further downside continuation.

Trading recommendation:

Watch for selling opportunities with the downside objectives at $1,793 and $1,784

Stochastic oscillator is showing fresh bear cross and bear divergence on intra frames, which is sign for further downside continuation.

Resistance zone is set at $1,805/1,807

Analyst InstaForex
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