FX.co - Analysis of Gold for June 21,.2021 - Potential for another big drop towards $1.682

2021-06-21T13:59:29

Relevance until2021-06-26

Technical analysis:

Analysis of Gold for June 21,.2021 - Potential for another big drop towards $1.682

Gold has been trading upwards due to oversold condition on Friday but I still see potential for the downside continuation.

Trading recommendation:

Watch for potential selling opportunities with the the main downside target at the price of $1.682.

Sellers are in control and I see potential running flat type of correction in the play, which is another sign of the weakness.

The trend is bearish with no evidence of reversal....

*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 21,.2021 - Potential for another big drop towards $1.682