FX.co - Analysis of Gold for June 15,.2021 - Potential for another drop towards $1.846

2021-06-15T12:14:24

Relevance until2021-06-16

Technical analysis:

Gold has been trading sideways at the price of $1.865. Anyway, i still see potential for another downside cycle.

Trading recommendation:

Analysis of Gold for June 15,.2021 - Potential for another drop towards $1.846

Watch for potential selling opportunities in case of the downside breakout of the mini upside channel that i marked on the chart.

Downside targets are set at the price of $1.846 and $1.814

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for June 15,.2021 - Potential for another drop towards $1.846