XAUUSD-06/19/2023
Preferred direction: SELL
Comment: Metals today are going through a difficult time. Due to the small bull market, the metal is not in demand. Based on the volumes and technical analysis, it can be seen that the instrument is also in the local authority of the seller. The downward movement is likely to continue, at least to the level of 1938.915. This support is likely to be broken. The fall potential in this case locates at least at the round level of 1900. The priority of sales remains, however, against the background of the speeches of representatives of the Central Bank of banks this week (especially the speech of the Head of the Fed in Congress), metals may suddenly acquire demand from market participants.
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Comment: Metals today are going through a difficult time. Due to the small bull market, the metal is not in demand. Based on the volumes and technical analysis, it can be seen that the instrument is also in the local authority of the seller. The downward movement is likely to continue, at least to the level of 1938.915. This support is likely to be broken. The fall potential in this case locates at least at the round level of 1900. The priority of sales remains, however, against the background of the speeches of representatives of the Central Bank of banks this week (especially the speech of the Head of the Fed in Congress), metals may suddenly acquire demand from market participants.
Thank you for like and share your views!
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