FX.co - Analysis of Gold for October 12,.2021 - Watch for downside rotation

2021-10-12T11:40:22

Relevance until2021-10-13

Technical analysis:

Analysis of Gold for October 12,.2021 - Watch for downside rotation

Gold has been trading upside this morning but I see potential for the downside rotation due to extreme condition.

Trading recommendation:

Watch for selling opportunities due to upside exhaustion in the background. The downside targets are set at $1757 and $1,751.

Stochastic is showing bearish divergence and potential for the further downside movement.

Resistance is set at $1,765

*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 October 12,.2021 - Watch for downside rotation