Analysis of Gold for June 22,.2022 - Broken downside channel and potential for the rally | InstaForex

Precious Metals: What Can We Expect From Gold In The Near Future?

Relevance up to 14:00 2022-06-23 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 upside today and I saw the breakout of the downside channel, which is good sign for further rally. Trading Recommendation: Due to the breakout of the downside channel and rejection of the lower trend-line, I see potential for further rise. Watch for buying opportunities on the intraday dips with the upside objectives at $1.847 and $1.860. Stochastic is showing bull condition, which is another confirmation for the rally. Key support is set at the price of $1.821

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Precious Metals: What Can We Expect From Gold In The Near Future?

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