FX.co - Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

2021-06-17T12:20:44

Relevance until2021-06-17

Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Technical analysis:

Gold has been trading strongly downside as I expected. The price reached the first downside objective at the price of $1.810 and is heading towards next target at $1.760.

Trading recommendation:

Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Watch for potential selling opportunities on the rallies with the downside targets at the price of $1.760 and $1.683.

Stochastic is showing negative reading

Bigger downside target is set at $7,800

Key resistance is set at $9,380

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Technical analysis #USD #Gold #Commodity

Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2025

FX.co ★ Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Forex Analysis

Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760