Gold Is Expected The Further Upside Movement
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Technical analysis:
Gold has been trading upside as I expected and the price has reached the first upside objective at the price of $1.900. Anyway, I see potential for further upside movement due to the strong upside momentum.
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Trading recommendation:
Due to the strong upside pressure and the breakout of the resistance zone at $1.900, I see potential for the 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 $1.950.
MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.
Key support is set at the price of $1.900
Relevance up to 09:00 2023-01-14 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.
