FX.co ★ Analysis of Gold for June 14,.2022 - First downside objective has been reached at $1.826

Technical analysis:

Gold has been trading downside as I expected. The price reached my first downside objective at the price of $1.826 and is heading towards the second target.

Trading recommendation:

Due to the strong supply and rejection of the resistance in the background, I see potential for the further downside movement.

Watch for selling opportunities on the intraday rallies with the next downside objective at the price of $1.790.

MACD oscillator is showing fresh momentum downside, which is good sign for further downside movement.

Key resistance is set at the price of $1.880