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Analysis of Gold for April 14,.2022 - Potential for the downside movement

Technical analysis:


Gold has been trading upside but there is the test of key resistance cluster at the price of $1.980. I see potential for the downside rotation of the key resistance.

Trading recommendation:

Due to the test and reject of the key resistance cluster, I see potential for the downside movement.

Watch for potential selling opportunities with the downside objectives at $1.967 and $1.952.

Stochastic oscillator is showing overbought condition and potential fresh bear cross, which is sign for further downside movement.

Resistance is set at the price of $1.980

Trading analysis offered by RobotFX and Flex EA.