Analysis of Gold for June 09,.2021 - Potential for the bigger drop towards $1.842 still in play

Technical analysis:

Gold has been trading sideways in last 24 hours but I see still potential for the downside movement.

Trading recommendation:

Watch for potential due to potential completion fo the ABC upside correction and the downside breakout of the channel in the background.

Downside targets are set at the price of $1.859 and $1.842.

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance is set at the price of $1.902