Analysis of Gold for June 16, 2023 – Fake breakout of the consoldiation and big reversal
June 16, 2023 12:24 pm
Technical analysis:
Gold has been trading upside yesterday and this morning and I found fake breakout of the consolidation in the background and strong reversal bar, which is strong sign for the further upside movement towards upside references.
Due to the strong reversal bar yesterday in the mid and long term upside trend, I see potential for the upside movement towards upside references.
Upside objective is set at the price of $1.982 and $2.000
MACD oscillator is showing bullish divergence in the background and potential for the further upside movement.
Key support cluster is set at the price of $1.930-$1.940
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upside
yesterday and this morning and I found fake breakout of the
consolidation in the background and strong reversal bar, which is
strong sign for the further upside movement towards upside
references.
Due
to the strong reversal bar yesterday in the mid and long term upside
trend, I see potential for the upside movement towards upside
references.
Upside
objective is set at the price of $1.982
and $2.000
MACD
oscillator is showing bullish
divergence in the background and potential for the further upside
movement.
Key
support cluster is set at the price of $1.930-$1.940
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: