20.05.202214:17 Forex Analysis & Reviews: Analysis of Gold for May 20,.2022 - Potential completion of the ABC upside correction

Technical analysis:

Exchange Rates 20.05.2022 analysis

Gold has been trading upwards yesterday but the price has reached the key pivot level at $1.850 and I see potential for the downside movement.

Trading recommendation:

Due to the strong downside cycle on the daily time-frame in the background and potential for ABC upside correction completion, I see further downside movement.

Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.810 and $1.788.

MACD oscillator is showing divergence and potential for the downside rotation.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

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