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02.10.2023 10:47 AM
Analysis of Gold for October 02 , 2023 - Strong downside pressure

Technical analysis:

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Gold has been trading downside as I expected and I see potetnial for the further drop towards next downside reference.

Due to the strong downside cycle and no signs for the reversal, I see potential for the further drop towards lower reference.

Downside objective is set at the price of $1.808

RSI oscillator is showing downside trend and no signs for the reversal, which is good sign for the further drop.

Key resistance is set at the price of $1.883

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