FX.co - Analysis of Gold for June 23,.2021 - First target at the price of $1.755 reached. Next downside target set at $1.681

2021-06-30T11:57:04

Relevance until2021-07-02

Technical analysis:

Analysis of Gold for June 23,.2021 - First target at the price of $1.755 reached. Next downside target set at $1.681

Gold has been trading downwards as I expected. The price has reached the first downside objective at $1.755 and is heading towards $1.681.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside target at $1.681.

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

I see no sign of reversal....

Resistance is set at $1.794

*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 23,.2021 - First target at the price of $1.755 reached. Next downside target set at $1.681