FX.co ★ Analysis of Gold for April 13,.2022 - Potential for the downside movement

Technical analysis:

Gold has been trading upside today but I see that resistance at the price of $1.978 is on the test. There is potential for the downside rotation.

Trading recommendation:

Due to the test of resistance and no fresh breakout of resistance, I see potential for the downside rotation.

Watch for selling opportunities if the price breaks the level of $1.964.

Downside objective is set at the price of $1.941.

Stochastic oscillator is showing fresh bear cross and overbought condition, which is sign for the downside rotation.

Resistance is set at $1.964