Analysis of Gold for June 01, 2023 – Breakout of the downside channel in the background
June 1, 2023 8:23 am
Technical analysis:
Gold has been trading upside yesterday and I found the breakout of the downside channel in the background, which is good sign for the further higher prices.
Due to the mid-long term upside trend and breakout of the downside channel in the background, I see potential for the further growth.
Upside objectives are set at the price of $1.985, $2.040 and $2.080
MACD oscillator is showing upside reading, which is good sign for the further higher prices….
Short-term support level is set at the price of $1.950
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upside yesterday and I found the breakout of the
downside channel in the background, which is good sign for the
further higher prices.
Due
to the mid-long term upside trend and breakout of the downside
channel in the background, I see potential for the further growth.
Upside
objectives are set at the price of $1.985, $2.040 and $2.080
MACD
oscillator is showing upside reading, which is good sign for the
further higher prices….
Short-term
support level is set at the price of $1.950
The material has been provided by InstaForex Company – www.instaforex.com
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