FX.co - Analysis of Gold for June 29,.2021 - Breakout of symmetrical triangle and potential for bigger drop towards $1.680

2021-06-29T11:19:06

Relevance until2021-06-30

Technical analysis:

Analysis of Gold for June 29,.2021 - Breakout of symmetrical triangle and potential for bigger drop towards $1.680

Gold has been trading downwards as I expected. There is the breakout of the symmetrical triangle and potential for the bigger drop.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at the price of $1.755 and $1.681

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 29,.2021 - Breakout of symmetrical triangle and potential for bigger drop towards $1.680