FX.co ★ Analysis of Gold for June 06,.2022 - Downside continution in the play

Technical analysis:

Gold has been trading downsides I expected but I still see further downside movement. There is the breakout of the bear flag pattern in the background..

Trading recommendation:

Due to the breakout of the bear flag pattern in the background and the impulsive downside swing in the background, I see potential for further downside movement.

Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.841 and $1.830.

MACD is showing downside reading and potential for the new fresh downside reading, which is sign that sellers are in control.

Key resistance is set at the price of $1.870