FX.co ★ Analysis of Gold for June 03,.2021 - Breakout of the inside day formation adn potential for drop towards $1.855

Technical analysis:

Gold has been trading downwards as we expected. There is potential for the bigger drop towards the level at $1.855.

Trading recommendation:

Due to overbought condition and the breakout of the inside day formation, I see potential for the drop towards the level at $1.855.

Watch for selling opportunities on the rallies...

Stochastic is showing overbought condition and fresh bear cross, which is another sign and confirmation for the downside rotation.Key resistance is set at $1.916