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23.02.202311:00 Forex Analysis & Reviews: Analysis of Gold for February 23,.2023 - Potential for the downside continuation

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Technical analysis:

Gold has been trading downside this morning and I see potential for the downside continuation of the downside trend in the background.

Due to the rejection of the Fibonacci Retracement 38.2% and the downside cross, I see potential for the further drop towards lower references.

Downside structural objectives are set at $1.819, $1.811 and $1.798

Stochastic and MACD oscillators are showing bear cross, which is good sign for the further downside movement.

Key resistance is set at the price of $1.833

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