25.10.202209:24 Forex Analysis & Reviews: Analysis of Gold for October 25,.2022 - Triangle pattern in creation and potential for further drop

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Technical analysis:

Gold has been trading downside as I expected and there is potential for further downside movement.

Trading recommendation:

Due to the rejection of the strong resistance at the price of $1.667 and triangle pattern in creation, I see potential for further downside movement.

Watch for the potential selling opportunities with the downside objective at the price of $1.622.

MACD oscillator is showing weak buying power and potential for further downside movement.

Key resistance is set at the price of $1.667

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