Analysis of Gold for June 15, 2023 – Breakout of the triangle pattern to the downside
June 15, 2023 8:24 am
Technical analysis:
Gold has been trading downside today and I found breakout of the tight triangle pattern to the downside, which is good sign for potential drop towards upside references.
Due to the strong downside momentum and the breakout of the tight triangle pattern in the background, I see potential for the further drop towards upside references.
Downside objective is set at the price of $1.810
MACD oscillator is showing downside reading and increase in the momentum, which is good sign for the further downside movement.
Resistance is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has
been trading
downside
today and I found breakout of the tight triangle pattern to the
downside,
which is good sign for potential drop
towards upside references.
Due
to the strong
downside
momentum and the breakout of the tight triangle pattern in the
background, I see potential for the further drop
towards upside references.
Downside
objective is
set at the price of $1.810
MACD
oscillator is
showing downside reading and increase in the momentum, which is good
sign for the further downside movement.
Resistance
is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
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