FX.co - Analysis of Gold for June 23,.2022 - Breakout of the intraday wedge pattern

2022-06-23T08:23:04

Relevance until2022-06-24

Technical analysis:

Analysis of Gold for June 23,.2022 - Breakout of the intraday wedge pattern

Gold has been trading upside this morning and there is the breakout of the falling wedge in the background. I see potential for further rally.

Trading Recommendation:

Due to the breakout of the falling wedge and the bullish divergence on the oscillator,I see potential for further rally.

Watch for potential buying opportunities on the intraday dips.

Upside objective is set at the price of $1.847

Stochastic oscillator is showing bull reading, which is good sign for further rise.

Support is set at the price of $1.831

*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 23,.2022 - Breakout of the intraday wedge pattern