Analysis of Gold for June 22, 2023 – Re-break of the triangle pattern to the downside
June 22, 2023 9:25 am
Technical analysis:
Gold has been trading downside as I expected and I found re-break of the symmetrical triangle pattern in the background, which is good sign for the further downside movement.
Due to the breakout of the upside channel and tight triangle in the background, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.861 and $1.819
MACD oscillator is showing increasing in the downside momentum, which is good confirmation for the further downside movement.
Key resistance is set at the price of $1.967
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
as I expected and I found re-break of the symmetrical triangle
pattern in the background, which is good sign for the further
downside movement.
Due
to the breakout of the upside channel and tight triangle in the
background, I see potential for the further drop towards lower
references.
Downside
objectives are set at the price of $1.861 and $1.819
MACD
oscillator
is showing increasing
in the downside
momentum,
which is good confirmation for the further downside
movement.
Key
resistance is set at the price of $1.967
The material has been provided by InstaForex Company – www.instaforex.com
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