FX.co ★ Analysis of Gold for April 07,.2021 - Rejection of the median Pitchfork trendline and potential for the drop towards $1.712

Further Development

Analyzing the current trading chart of Gold, I found that there is rejection of the middle Pitchfork line, which is good sign for further downside movement.

My advice is still to watch for selling opportunities with the downside targets at $1.722, $1.712 and $1.680.

Stochastic oscillator is showing bear divergence and the bear cross is still active, which is good confirmation for the further drop....

Key Levels:

Resistance: $1.745Support levels: $1.722, $1.712 and $1.680.