FX.co ★ Analysis of Gold for February 24,.2023 - First downside objective has been met

Technical analysis:

Gold has been trading downside as I expected and the market has reached the first downside objective at $1.819. I see potential for the further downside movement.

Due to the strong downside movement and the downside trend, I see potential for the further drop towards lower reference.

Next downside structural objective is set at $1.810

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

Intraday resistance is set at $1.827