Analysis of Gold for June 08, 2023 – Potential for the rally
June 8, 2023 9:22 am
Technical analysis:
Gold has been trading downside yesterday from the mid day but the Gold found support at the price of $1.940 and I see potential for the rejection and upside movement.
Due to the mid-long term upside trends and the rejection of the support cluster, I see potential for the further upside movement towards upside references.
Upside objectives are set at the price of $1.954 and $1.967
MACD oscillator is showing neutral reading and potential for upside continuation..
Support cluster is set at the price of $1.940
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
yesterday from the mid day but the Gold found support at the price of
$1.940 and I see potential for the rejection and upside movement.
Due
to the mid-long term upside trends and the rejection of the support
cluster, I see potential for the further upside movement towards
upside references.
Upside
objectives are set at the price of $1.954
and $1.967
MACD
oscillator is showing neutral reading and potential for upside
continuation..
Support
cluster is set at the price of $1.940
The material has been provided by InstaForex Company – www.instaforex.com
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