FX.co - Analysis of Gold for June 09,.2022 - Watch for the breakout of the triangle pattern base

9 June 2022 at 1:58PM (UTC+0)

Relevance until10 June 2022 at 1:58PM (UTC+0)

Technical analysis:

Analysis of Gold for June 09,.2022 - Watch for the breakout of the triangle pattern base

Gold has been trading sideways at the price of $1.847. I see potential for the breakout mode.

Trading recommendation:

Due to the very well defined sideways regime (triangle), I see potential for the breakout play.

In case of the breakout of support at $1.836, watch for selling opportunities with the downside objective at the price of $1.826 and $1.811.

In case of the breakout of the resistance at $1.860, watch for buying opportunities with the objective at the price of $1.874

*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 09,.2022 - Watch for the breakout of the triangle pattern base