Analysis of Gold for October 07,.2021 - Momentum divergence and potential for drop towards $1.746

Technical analysis: Gold has been trading sideways at the price of $1,761. I see potential for the downside movement towards $1,746 Trading recommendation: Watch for potential selling due to extreme upside condition and potential for the downside continuation. Downside target is set at the price of $1,746 Stochastic is showing fresh bear cross and bearish divergence, which is another sign and confirmation for the downside rotation. Resistance is set at $1,767The material has been provided by InstaForex Company - www.instaforex.com

Analysis of Gold for October 07,.2021 - Momentum divergence and potential for drop towards $1.746

Technical analysis:

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Gold has been trading sideways at the price of $1,761. I see potential for the downside movement towards $1,746

Trading recommendation:

Watch for potential selling due to extreme upside condition and potential for the downside continuation.

Downside target is set at the price of $1,746

Stochastic is showing fresh bear cross and bearish divergence, which is another sign and confirmation for the downside rotation.

Resistance is set at $1,767

The material has been provided by InstaForex Company - www.instaforex.com