Gold Price Loses Momentum: Forecast for June 19, 2024

by Jennifer

Gold Price Analysis

Gold prices are currently trading within a bearish pennant pattern, suggesting a continuation of the downward trend. The stochastic indicator shows clear overbought signals, indicating that the price may soon resume its decline. The primary target is to break the pattern’s support line at $2313.00 and move towards the next main target of $2272.06.


Expected Trading Range for Today

  • Support: $2310.00
  • Resistance: $2345.00

Trend Forecast: Bearish

Gold is expected to continue its bearish trend, with potential for further declines as indicated by technical analysis.

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