FX.co - Analysis of Gold for June 24,.2021 - Potential for the downside continuation towards $1.774

2021-06-24T12:47:27

Relevance until2021-06-25

Technical analysis:

Analysis of Gold for June 24,.2021 - Potential for the downside continuation towards $1.774

Gold has been trading upside today but I see potential for the downside rotation till end of the day.

Trading recommendation:

Watch for potential selling opportunities due to potential overbought condition and strong pivot zone at $1.785.

Downside targets are set at the price of $1.774 and $1.765.

Stochastic is showing overbought condition and fresh bear cross, which is another sign and confirmation for the downside rotation.

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

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for June 24,.2021 - Potential for the downside continuation towards $1.774