FX.co - Analysis of Gold for July 02,.2021 - Strong resistance cluster on the test at $1.790

2021-07-02T11:49:55

Relevance until2021-07-04

Technical analysis:

Analysis of Gold for July 02,.2021 - Strong resistance cluster on the test at $1.790

Gold has been trading upside but there is strong resistance zone at $1.790-$1.796..

Trading recommendation:

Watch for potential selling opportunities due to overbought condition and strong resistance.

Downside targets are set at $1.770 and $1.754

Stochastic is showing overbought condition and potential 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 July 02,.2021 - Strong resistance cluster on the test at $1.790