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FX.co ★ Analysis of Gold for March 07,.2022 - Bearish divergence in the background

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Forex Analysis:::2022-03-07T13:16:15

Analysis of Gold for March 07,.2022 - Bearish divergence in the background

Technical analysis:

Analysis of Gold for March 07,.2022 - Bearish divergence in the background

Gold has been trading upside in the background but I found bearish divergence today, which is sign that there is potential for the downside rotation.

Trading recommendation:

Due to extreme upside condition on the Gold, I see potential for the downside rotation..

Watch for selling opportunities with then downside objectives at $1,973 and $1,950.

Stochastic is showing bearish divergence, which is another sign for the downside rotation.

Key resistance is set at the price of $2,000

Analyst InstaForex
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