Analysis of Gold for June 13, 2023 – Potential for the further rally
June 13, 2023 7:27 am
Technical analysis:
Gold has been trading inside of the multi day triangle pattern but I see potential for the upside breakout. In the background, Gold already broke downside channel, which is good sign for the further higher prices.
Due to the strong mid and long term upside trend and the potential breakout of the triangle pattern, I see potential for the further upside movement towards next reference point.
Upside objectives are set at the price of $2.000, $2.040 and $2.080
MACD oscillator is showing upside reading, which is good sign for the further higher prices.
Key support is set at the price of $1.935
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading
inside of the multi day triangle pattern but I see potential for the
upside breakout. In the background, Gold already broke downside
channel, which is good sign for the further higher prices.
Due
to the strong
mid and long term upside trend and
the potential breakout of the triangle pattern, I see potential for
the further upside movement towards next reference point.
Upside objectives
are set at the price of $2.000, $2.040 and $2.080
MACD
oscillator
is showing
upside reading, which is good sign for the further higher prices.
Key
support is set at the price of $1.935
The material has been provided by InstaForex Company – www.instaforex.com
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