FX.co - Analysis of Gold for June 28,.2021 - Symmetrical triangle in creation. Watch for the breakout and potential new drop towards $1.681

2021-06-28T11:03:40

Relevance until2021-06-29

Technical analysis:

Analysis of Gold for June 28,.2021 - Symmetrical triangle in creation. Watch for the breakout and potential new drop towards $1.681

Gold has been trading sideways at the price of $1.778. I still see potential for the downside continuation towards $1.755.

Trading recommendation:

Watch for potential selling opportunities if the price breaks the level of $1.711.

Downside targets are set at the price of $1.755 and $1.681.

Resistance is set at $1.795

Stochastic is showing neutral condiiton...

Bollinger bands are showing contraction and potential for the breakout....

*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 28,.2021 - Symmetrical triangle in creation. Watch for the breakout and potential new drop towards $1.681