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Expert In



Analysis of Gold for October 20,.2021 - Potential for the downside continuation

Technical analysis:


Gold has been trading upside today but I see potential completion of the ABC upside correction and more downside in next period.

Trading recommendation:

Due to overbought condition and potential for the further downside, my advice is to watch for selling opportunities.

Downside targets are set at the price of $1,767 and $1,761.

Stochastic is showing overbought condition and potential for the furher downside movement.

Resistance is set at $1,787

The material has been provided by InstaForex Company -