FX.co ★ Analysis of Gold for June 24,.2022 - Breakout of the rising channel in the background

Technical analysis:

Gold has been trading sideways today at the price of $1.825. I still see potential for the downside movement. There is the breakout of the rising channel in the background.

Trading recommendation:

Due to the breakout of the rising channel in the background, I see potential for the further downside movement.

Watch for potential selling opportunities on the rallies.

Downside objectives are set at the price of $1.814 and $1.803.

MACD oscillator is showing downside momentum, which is good sign for further downside movement.

Resistance is set at the price of $1.843