FX.co - Analysis of Gold for June 19, 2023 - Potential for the downside movement

2023-06-19T07:33:20

Relevance until2023-06-20

Technical analysis:

Analysis of Gold for June 19, 2023 - Potential for the downside movement

Gold has been trading in the sideways range at the price of $1.953 but I see potential for the downside movement due to no fallow trought on Friday.

Due to the rejection of the mini supply trend line in the background, I see potential for the further downside movement towards downside references.

Downside objectives are set at the price of $1.930 and $1.894

MACD oscillator is showing neutral stance and potential for the downside movement...

Key resistance is set at the price of $1.980

*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 19, 2023 - Potential for the downside movement