FX.co ★ Analysis for Gold 03.11.2020 - Watch for the breakout of mini Pitchfork channel to confirm downside continuaiton and potential test of $1.610

Technical analysis:

Gold has been trading upwards. The price tested the level of $1.670 and reached mini Pitchfork median line.There is still goo potential for the Gold to go downside and test the levels at $1.610 and $1.585.

Watch for selling opportunities on the rallies with the main target at $1.610. The breakout of the mini Pitchfork upward channel would confirm the downside continuation...

MACD is showing the new momentum down, which is good confirmation for the further downside.

Resistance levels are set at $1.667, $1.680 and $1.700

Support levels are set at the price of $1.641, $1.610 and $1.584