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25.09.2023 10:26 AM
Analysis of Gold for September 25, 2023 - Potential for the further drop

Technical analysis:

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Gold has been trading downside as I expected. The market rejected of the key resistance cluster at $1.929 and there is potential for the further drop.

Due to the short-term downside trend and the rejection of the key resistance in the background, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $1.913 and $1.901

Stochastic oscillator is showing fresh hidden bearish divergence, which is good sign for the further downside movement.

Key resistance is set at the price of $1.929

Summary
Urgency
Analytic
Petar Jacimovic
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