FX.co - Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Forex Analysis:::2021-06-17T12:20:44

Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Technical analysis:

Gold has been trading strongly downside as I expected. The price reached the first downside objective at the price of $1.810 and is heading towards next target at $1.760.

Trading recommendation:

Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Watch for potential selling opportunities on the rallies with the downside targets at the price of $1.760 and $1.683.

Stochastic is showing negative reading

Bigger downside target is set at $7,800

Key resistance is set at $9,380

Petar Jacimovic

Analyst InstaForex

Author articles

#Technical analysis #USD #Gold #Commodity

FX.co ★ Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760

Gold analysis for June 17 2021 - Massive drop and first target reached at $1.810. Next downside target set at $1.760