FX.co ★ Gold 02.26.2020 - Pitchfork warning line 2 worked like solid resistance today, potential for the further drop increased

Gold has been trading sideways at the price of $1.644.. The Pitchfork warning line 1 acted today like resistance, which is good indication the downside rotation is possible.

Watch for selling opportunities with downward targets at $1.625 and $1.612.

MACD oscillator is showing that slow line did turn to the downside, which is another indication that we got rotation to the downside.

Resistance level is set at the price of $1.658.

Support levels and downward targets are set at the price of $1.625 and $1.612.