FX.co - Analysis of Gold for March 29,.2023 - Potential for the downside movement

2023-03-29T06:03:13

Relevance until2023-03-30

Technical analysis:

Analysis of Gold for March 29,.2023 - Potential for the downside movement

Gold has been trading downside this morning and I see there potential for the further downside movement.

Due to the rejection of the resistance zone at $1.975 and potential completion fo the ABC upside correction, I see further downside movement.

Downside objective is set at the price of $1.938

MACD oscillator is showing negative reading, which is good sign for the further downside movement...

*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 March 29,.2023 - Potential for the downside movement