FX.co ★ Analysis of Gold for June 29,.2022 - Breakout of the mini downside channel

Technical analysis:

Gold has been trading upside this morning and there is the breakout of the mini downside channel, which is good sign for further rise.

Trading recommendation:

Due to the breakout of the mini upside channel and strong upside momentum, I ee potential for the further rally.

Watch for potential buying opportunities on the intraday dips with the upside objectives at $1.840 and $1.855.

Stochastic is showing bullish divergence and fresh bull cross, which is another good confirmation for further rally.

Key support is set at the price of $1.807