Relevance up to 13:00 2022-06-29 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.
Gold has been trading downside as I expected. The price reached first downside objective at $1819. Trading recommendation: Due to the rejection of the trendline in the background and breakout of the mini rising wedge, I see potential for further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objective at $1.805. Stochastic is showing oversold condition but with no signs for further reversal. Key resistance is set at the price of $1.840