Stock market analytics, financial forecasts

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Analysis of Gold for June 11,.2021 - Potential for the bigger drop towards $1.860
08:24 2021-06-11 UTC--4
Exchange Rates analysis

Technical analysis:

Gold has been trading sideways in the 12 hours but I still see potential for the downside movement towards $1.860.

Trading recommendation:

Watch for potential selling opportunities on the rallies using the intraday frames 15/30 minutes.

Downside targets are set at the price of $1.860 and $1.842.

Stochastic is showing overbought condition and fresh bear cross, which is another sign and confirmation for the downside rotation.

Main cause of the downside movement is the breakout of the rising channel in the background.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.