Main Quotes Calendar Forum
flag

FX.co ★ Analysis of Gold for March 06,.2023 - Rejection of the Fibonacci resistance confluence

parent
Forex Analysis:::2023-03-06T08:46:33

Analysis of Gold for March 06,.2023 - Rejection of the Fibonacci resistance confluence

Technical analysis:

Analysis of Gold for March 06,.2023 - Rejection of the Fibonacci resistance confluence

Gold has been trading upside in the background but I found test and rejection of the key Fibonacci confluence resistance zone at $1.860

Due to the longer term downside cycle and the rejection fo the key Fibonacci resistance in the background, I see potential for the further downside movement towards lower reference point.

Downside objective is set at the price of $1.805

Stochastic oscillator is showing fresh bear cross, which is first sign for the potential downside movement.

Key resistance is set at $1.860

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...