Analysis of Gold for June 29, 2023 – Potentia lfor the further downside movement
June 29, 2023 9:24 am
Technical analysis:
Gold has been trading downside yesterday and I found breakout of the triangle pattern in the background, which is good sign for the further downside movement.
Due to the breakout of the triangle pattern in the background and strong downside momentum, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.861 and $1.812
MACD oscillator is showing strong downside reading, which is good confirmation for the further downside movement.
Short-term resistance is set at the price of $1.925
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
yesterday and I found breakout
of the triangle
pattern in the background, which is good sign for the further
downside movement.
Due
to the breakout of the triangle pattern in the background and strong
downside momentum, I see potential for the further drop towards lower
references.
Downside
objectives
are set at the price of $1.861 and $1.812
MACD
oscillator
is showing strong
downside reading, which is good confirmation for the further downside
movement.
Short-term
resistance is set at the price of $1.925
The material has been provided by InstaForex Company – www.instaforex.com
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