BTC update for July 21,.2023 – First downside objective has been reached, potential for furtehr downside movement
July 21, 2023 8:23 am
Technical analysis:
Gold has been trading downside as I expected and the price has reached first downside objective at $1.970. I still see potential for the further downside movement.
Due to the fake breakout of the swing high at $1.981 in th background and the downside momentum, I see potential for the further downside movmeent towards lower reference.
Downside objective is asset at the price of $1.960
Stochastic oscillator is showing fresh downside flip, which is another good sign for the further downside movement.
Key resistance is set at the price of $1.973
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
as I expected and the price has reached first downside objective at
$1.970. I still see potential for the further downside movement.
Due
to the fake breakout of the swing high at $1.981 in th background and
the downside momentum, I see potential for the further downside
movmeent towards lower reference.
Downside
objective is asset at the price of $1.960
Stochastic
oscillator is showing fresh downside flip,
which is another good sign for the further downside movement.
Key
resistance is set at the price of $1.973
The material has been provided by InstaForex Company – www.instaforex.com
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