FX.co ★ Analysis of Gold for June 21, 2023 - Re-break of the symmetrical triangle pattern

Technical analysis:

Gold has been trading downside and I found re-break of the triangle pattern on the daily time-frame, which is good sign for the further downside movement.

Due to the breakout of the triangle pattern and the downside momentum, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $1.923 and $1.860

MACD oscillator is showing downside reading, which is good confirmation for the further downside movement.

Key resistance is set at the price of $1.970-$1.983