FX.co - Analysis of Gold for June 02,.2022 - Key resistance at the price of $1.855 on the test

2022-06-02T10:56:22

Relevance until2022-06-03

Technical analysis:

Analysis of Gold for June 02,.2022 - Key resistance at the price of $1.855 on the test

Gold has been trading upside in the background and the price is testing the level of $1.850 but I see potential for the downside movement.

Trading recommendation:

Due to the confluence of the important resistance levels around the price of $1.853-$1.856, I see potential for the downside movement.

Watch for potential selling opportunities with the downside objectives at $1.843 and $1.830.

Stochastic is showing overbought condition and potential for the downside rotation.

Key resistance is set at the price of $1.856

*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 02,.2022 - Key resistance at the price of $1.855 on the test