FX.co ★ Analysis of Gold for June 30, 2023 -Sellers in control and potential for the further drop

Technical analysis:

Gold has been trading downside in the background as I expected and I see potentiall for the further drop due to the lack for buyers.

Due to the breakout of the multy day range and the lack of buyers in last 10 trading days, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $1.861 and $1.812

RSI oscillator is showing breakout of the rising trend-line, which is good sign for the further downside movement.

Key resistance is set at the price of $1.936