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20.07.2022 01:15 PM
Analysis of Gold for July 20,.2022 - Breakout of the triangle pattern to the downside

Technical analysis:

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Gold has been trading downside today and I saw the breakout of the triangle pattern, which is good sign for further downside movement.

Trading recommendation:

Due to the breakout of the symmetrical triangle today, I see potential for fruther downside continuation of the bear trend in the background.

Watch for potential selling opportunities on the intraday rallies with the downside objectives at the price of $1.698 and $1.681.

Key resistance is set at the price of $1.721

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