Relevance up to 13:00 2022-06-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Technical analysis:
Gold has been trading sideways at the price of $1.856 in the past few days. I see potential for the downside rotation due to rejection of the resistance in the backgorund. Trading recommendation: Due to the rejection of the resistance in the background and the no bigger buying power, I see potential for the downside movement. Watch for potential selling opportunities on the rallies with the next downside objective at $1.827. Stochastic is showing fresh bear cross from the overbought area, which is good confirmation for the further downside movement. Resistance is set at the price of $1.878
