GOLD SELL 22 June 2024
The chart indicates a bearish trend for gold, with the price breaking below the ascending channel and failing to reclaim previous support levels, which have now turned into resistance (as indicated by the red arrows). Additionally, the price is consolidating below the critical resistance zone around $2,415, suggesting a lack of bullish momentum. The price targets (TP1, TP2, TP3) are set at lower levels ($2,381.04, $2,369.17, and $2,356.75 respectively), reinforcing the downward trajectory.
Risk Management Warning: Ensure you set stop-loss orders to protect against unexpected price reversals and manage your position size appropriately to avoid excessive losses.
Risk Management Warning: Ensure you set stop-loss orders to protect against unexpected price reversals and manage your position size appropriately to avoid excessive losses.
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