Analysis of Gold for June 21, 2023 – Re-break of the symmetrical triangle pattern
June 21, 2023 9:24 am
Technical analysis:
Gold has been trading downside and I found re-break of the triangle pattern on the daily time-frame, which is good sign for the further downside movement.
Due to the breakout of the triangle pattern and the downside momentum, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.923 and $1.860
MACD oscillator is showing downside reading, which is good confirmation for the further downside movement.
Key resistance is set at the price of $1.970-$1.983
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
and I found re-break of the triangle pattern on the daily time-frame,
which is good sign for the further downside movement.
Due
to the breakout of the triangle pattern and the downside momentum, I
see potential for the further drop towards lower references.
Downside
objectives are set at the price of $1.923 and $1.860
MACD
oscillator
is showing downside
reading, which is good confirmation for the further downside
movement.
Key
resistance is set at the price of $1.970-$1.983
The material has been provided by InstaForex Company – www.instaforex.com
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