Trend Condition Remains Bearish

• RES 4: $1909.8 - High May 5
• RES 3: $1886.6 - Trendline resistance drawn from the Mar 8 high
• RES 2: $1878.4 - High Jun 13
• RES 1: $1864.6 - 50-day EMA
• PRICE: $1844.0 @ 07:20 BST Jun 20
• SUP 1: $1805.2 - Low Jun 14
• SUP 2: $1787.0 - Low May 16 and bear trigger
• SUP 3: $1780.4 - Low Jan 28 and a key support
• SUP 4: $1753.7 - Low Dec 15 2021

Gold remains vulnerable short-term, despite the latest recovery. The yellow metal has recently failed to remain above the 50-day EMA and this highlights a bearish threat and signals the potential end of the recent correction between May 16 - Jun 13. An extension lower would open the key support and bear trigger at $1787.0, May 16 low. A break would resume the downtrend. Key trendline resistance is at $1886.6.