FX.co ★ Analysis of Gold for July 25,.2022 - Watch for the breakout of the rising trendline

Technical analysis:

Gold has been trading sideways at the price of $1.726 but I see potential for the potential breakout of the rising trendine.

Trading recommendation:

Watch for potential breakout of the rising trend-line to confirm further downside movement.

In case of the downside breakout, watch for the selling opportunities on the intraday rallies with the downside objectives at the price of $1,711 and $1,694.

Stochastic is showing fresh bear cross, which is good sign for further downside movement.

Resistance is set at the price of $1.737