GOLD 15/06: Gold forecast news tonight

15. Juni 2023

GOLD Gold prices extended their downtrend on Thursday and probed the 1940$ area. However, the downtrend is due to shrinking volume and open interest, suggesting that a more prolonged decline seems unlikely for the time being. So far, there seems to be good support around 1,930$

Even if Gold Price surges past the 1,946$ level, the 38.2% Fibonacci level on the Daily chart could propel the bulls closer to 1,948$ before highlighting the 1,950$ upside. .

It's worth noting that gold's rally beyond 1,950$ is still not a free path for the bulls because of the previous daily high and one-week Fibonacci 38.2%, near 1,965$, can also check buyers GOLD.

However, in my opinion, I predict that GOLD will bounce up to the 1943$-1946$ zone, then we have a short selling GOLD contract around 1943$-1946$. My expectation is that GOLD will fall back to 1930$

Stop loss around 70pip per trade