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Expert In



Short-term technical analysis on Gold for June 30, 2021.

Gold price is back testing the break down area from the trading range. Price remains in a bearish trend. Yesterday we saw the first warning for bears as the RSI did not make a new lower low as price did.


Red line - bullish RSI divergence

Green lines - trading range

Yesterday we saw price exiting the trading range and making new lows. However the RSI did not follow and provided us with a bullish divergence. This is only a warning and not a reversal signal. Resistance remains strong between $1,780-$1,800 and as long as price is below this level we expect price to continue lower towards $1,740.

The material has been provided by InstaForex Company -