FX.co ★ Analysis of Gold for June 10,.2022 - Breakout of the downside channel

Technical analysis:

Gold has been trading upside this morning and I see potential for further rally due to the breakout of well defined downside channel.

Trading recommendation:

Due to the breakout of the overnight downside channel, I see potential for the rally today towards upper references.

Watch for potential buying opportunities on the intraday dips with the upside objectives at $1.850 and $1.853. Extreme target can be set at $1.858.

Stochastic is showing upside momentum and the divergence in the background.

Key support is set at the price of $1.839