FX.co - Analysis of Gold for June 07, 2023 - Support cluster on the test and potential for the rally

2023-06-07T07:42:48

Relevance until2023-06-08

Technical analysis:

Analysis of Gold for June 07, 2023 - Support cluster on the test and potential for the rally

Gold has been trading downside this morning and I found the key support cluster at the price of $1.954 on the test.

Due to the mid-long term upside trend and the test of the range support cluster, I see potential for the further rally towards upside reference.

Upside objective is set at the price of $1.964 and $1.981

RSI oscillator is showing oversold condition and potential for the rally.

Key support cluster is set at the price of $1.954

*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 07, 2023 - Support cluster on the test and potential for the rally