Gold price analysis October 22GOLD UPDATE – Strong Correction Pressure Appears
After a long rally, gold witnessed a sharp decline yesterday, with a deep correction of up to 300 prices - a rare number in the recent period. This shows that profit-taking pressure from buyers is increasing, and the short-term correction trend may continue today.
In the context of the temporary pause in the uptrend, the resistance zones above will play an important role in observing price behavior. If there is a clear price rejection signal at these zones, the priority strategy will be to SELL according to the correction wave.
📉 SELL trigger: When there is a price rejection at the resistance zone of 4179 - 4226
🎯 Target: 3946
The short-term trend is leaning towards a downward correction, so keep a close eye on the price reaction to avoid missing out on the opportunity to trade in the right direction.
