Technical analysis of GOLD 09/16/2022

Gold on the daily chart is in a downtrend and is trading in a channel. The price broke the support at 1680.85 (2021 low) and is currently trading in the 1665.00 area.

The technical picture suggests a continuation of the downward movement with a target in the area of 1580.00.

The signal to cancel the development of the decline will be the growth of quotations above the resistance level of 1800.00 (MA100).

GOLDDaily

Created by Joshua Hayn

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