Analysis of Gold for June 20, 2023 – Potential for the downside movement
June 20, 2023 8:24 am
Technical analysis:
Gold has been trading in the sideways range at the price of $1.950 but I see potential for the downside movement towards support of the trading range.
Due to the weak demand after the mark up phase from lat week and rejection of the supply trend line, I see potential for the downside movement towards lower references.
Downside objectives are set at the price of $1.930 and $1.894
MACD oscillator is showing neutral reading with no defined momentum.
Key resistance is set at the price of $1.970 and $1.985
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading in the sideways range at the price of $1.950
but I see potential for the downside movement towards support of the
trading range.
Due
to the weak demand after the mark up phase from lat week and
rejection of the supply trend line, I see potential for the downside
movement towards lower references.
Downside
objectives are set at the price of $1.930 and $1.894
MACD
oscillator is showing neutral
reading with no defined momentum.
Key
resistance is set at the price of $1.970
and $1.985
The material has been provided by InstaForex Company – www.instaforex.com
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