Gold Has A Chance For Further Rally
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Technical analysis:
Gold has been trading downside but I see that Gold is the oversold condition, which can be a good sign for further rally.
Trading recommendation:
Due to the intraday oversold condition and strong upside trend in the background, I see potential for the further upside movement.
In case of the breakout of the $1.912, watch for buying opportunities with the upside objective at $1.928.
Stochastic is showing oversold condition and potential for the upside movement.
Key support is set at the price of $1.900
Relevance up to 08:00 2023-01-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
