Analysis of Gold for June 28, 2023 – Strong downside momentum
June 28, 2023 2:23 pm
Technical analysis:
Gold has been trading downside as I expected and the price is heading towards main downside objective at $1.860. I still see potential for the further drop.
Due to the breakout of the tight triangle and re-break few days ago, I see potential for the further downside momentum towards lower reference.
Downside objective is set at the price of $1.860
MACD oscillator is showing strong downside momentum, which is good confirmation for the further drop.
Key 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 as I expected and the price is
heading towards main downside objective at $1.860. I still see
potential for the further drop.
Due
to the breakout of the tight triangle and re-break few days ago, I
see potential for the further downside momentum towards lower
reference.
Downside
objective is set at the price of $1.860
MACD
oscillator is showing strong downside momentum, which is good
confirmation for the further drop.
Key
resistance is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
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