FX.co - Analysis of Gold for June 22,.2021 - End of the upside correction and potential for drop towards $1.724

22 June 2021 at 12:52PM (UTC+0)

Relevance until24 June 2021 at 12:52PM (UTC+0)

Technical analysis:

Analysis of Gold for June 22,.2021 - End of the upside correction and potential for drop towards $1.724

Gold has been trading downside as I expected. I still expect downside movement towards the level at $1.724.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at the price of $1.724 and $1.681.

There is potential end of the upside correction "running flat"...

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 22,.2021 - End of the upside correction and potential for drop towards $1.724