Gold Wave Analysis – 6 June 2025

Gold: ⬇️ Sell

– Gold reversed from resistance area

– Likely to fall to support level 3250,00

Gold recently reversed down from the resistance area between the key resistance level 3400.00 (which has been reversing the price from April) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier intermediate impulse wave (5) from the end of May.

Given the overbought daily Stochastic, Gold can be expected to fall to the next support level 3250,00 (which stopped the previous intermediate ABC correction (4)).

Source: https://fxpro.news