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FX.co ★ Analysis of Gold for March 16,.2022 - Potential for the downside continuation

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Forex Analysis:::2022-03-16T12:59:09

Analysis of Gold for March 16,.2022 - Potential for the downside continuation

Technical analysis:

Analysis of Gold for March 16,.2022 - Potential for the downside continuation

Gold has been trading sideways at the price of $1.919 but I still see strong downside trend in the background and potential for the downside continuation.

Trading recommendation:

Due to strong downside momentum in the background, I see further downside continuation.

Watch for potential selling opportunities if the Gold breaks the level of $1.906.

Downside objectives will be set at the price of $1.880

Key resistance is set at the price of $1.960

Analyst InstaForex
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