Relevance up to 14:00 2022-06-25 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 today at the price of $1.825. I still see potential for the downside movement. There is the breakout of the rising channel in the background. Trading recommendation: Due to the breakout of the rising channel in the background, I see potential for the further downside movement. Watch for potential selling opportunities on the rallies. Downside objectives are set at the price of $1.814 and $1.803. MACD oscillator is showing downside momentum, which is good sign for further downside movement. Resistance is set at the price of $1.843
