23.02.202214:53 Forex Analysis & Reviews: Analysis of Gold for February 23,.2022 - Potential for the drop to take previous lows

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

Gold has been trading sideways at the price of $1,895 and I see potential for the sell off before any further upside continuation.

Trading recommendation:

Due to indecision on the market and the extreme reading on the Gold, I see poetical for the downside movement.

Watch for potential for intraday downside opportuntiies on the rallies with the downside objectives at $1,879 and $1,847

In the background, there is the the big momentum slowdown on the upside run, which is indication for the potential downside movement.

Resistance is set at $1,912

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.