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06.09.202210:24 Forex Analysis & Reviews: Analysis of Gold for September 06,.2022 - Potential for the downside rotation

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Technical analysis:

Gold has been trading upside in the background but I found strong rejection of the important resistance at the price of 1.725, which is good ign for further downside rotation.

Trading recommendation:

Due to strong rejection of the key resistance at the price of $1.725, I see potential for the downside movement.

Watch for the selling opportunities on the intraday rallies with the downside objectives at the price of $1.709 and $1.690.

MACD oscillator is showing bear divergence, which is another sign for the further downside rotation.

Key short-term resistance is set at the price of $1.725

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