FX.co - Analysis of Gold for September 28,.2021 - First objective has been reached, second target set at $1.718

2021-09-28T11:16:43

Relevance until2021-09-29

Technical analysis:

Analysis of Gold for September 28,.2021 - First objective has been reached, second target set at $1.718

Gold has been trading downside as I expected. The price reached my first objective at $1,739 but It is heading towards second target at $1,718.

Trading recommendation:

Due to the strong downside cycle and the downside trend, watch for selling opportunities on the rallies.

Downside target is set at the price of $1,718

Stochastic oscillator is showing fresh bear cross, which is another sign for the downside continuation.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for September 28,.2021 - First objective has been reached, second target set at $1.718