Analysis of Gold for May 03,.2021 - Both targets reached on the GOld and potential for itnraday downside rotation

Further Development

analytics608fe236672a4.jpg

Analyzing the current trading chart of Gold, I found that Gold reached both upside targets from Friday at the price of $1.775 and $1.782.

The Gold rejected of the Fibonacci expansion 100% at $1.782, which is good sign for the downside rotation.

My advice is to watch for selling opportunities intraday and potential for the downside movement towards $1.775.

Stochastic oscillator got bearish divergence, which is another indication for the downside rotation.

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

Pages