FX.co ★ Analysis of Gold for June 22,.2022 - Broken downside channel and potential for the rally

Technical analysis:

Gold has been trading upside today and I saw the breakout of the downside channel, which is good sign for further rally.

Trading Recommendation:

Due to the breakout of the downside channel and rejection of the lower trend-line, I see potential for further rise.

Watch for buying opportunities on the intraday dips with the upside objectives at $1.847 and $1.860.

Stochastic is showing bull condition, which is another confirmation for the rally.

Key support is set at the price of $1.821