FX.co ★ Analysis of Gold for June 27,.2022 - Potential for the drop

Technical analysis:

Gold has been trading upside in the background but I found rejection of the upside trend-line, which is sign that Gold can react lower.

Trading recommendation:

Due to the confluence of resistances at $1.840, I see potential for the downside rotation.

Watch for potential selling opportunities if the price breaks the level of $1.833.

Downside objective is set at $1.820

Stochastic is showing overbought condition and potential for the downside rotation.

Key resistance is set at the price of $1.840