Gold Has A Good Sign For Further Bullish Movement
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Technical analysis:
Gold has been trading upside this morning and I found breakout of the downside channel, which is good sign for the further upside movement.
Trading recommendation:
Due to the breakout of the downside channel and the strong upside trend in the background, I see potential for further upside movement towards next upside reference.
Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.928
Stochastic oscillator is showing oversold condition and fresh flip up, which is good sign for further bullish movement.
Key support is set at the price of $1.896
Relevance up to 08:00 2023-01-19 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.
