Technical analysis of GOLD 09/27/2022

Gold on the daily chart continues to trade in a downtrend within the channel. The price found support at 1620.70, after which it corrected and is currently trading around 1630.00.

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

A signal to cancel the development of the decline will be the growth of quotes above the resistance level of 1800.00 (MA100), which will indicate an exit beyond the upper line of the descending channel.


Created by Joshua Hayn

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