FX.co ★ Analysis of Gold for April 03, 2023 - Breakout of the triangle pattern to the downside

Technical analysis:

Gold has been trading downside this morning and I found breakout of the triangle pattern in the background, which is good sign for the further downside movement.

Due to the breakout of the triangle pattern and strong downside momentum, I see potential for the further downside movement.

Downside objectives are set at $1.932 and $1.900

MACD is showing bearish reading, which is good sign for the further drop....

Key resistance is set a the price of $1.985