FX.co ★ Analysis of Gold for October 15,.2021 - Sellers in control and potential for drop towards $1.758

Technical 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