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Gold has been trading upside with the strong momentum in the background and I see potential for the upside continuation due to the bullish flag pattern.
Trading recommendation:
Due to the narrow pullback and bull flag pattern in creation, I see potential for further rally towards next upside reference.
Watch for buying opportunities with the upside objective at $1.724
Stochastic oscillator is showing fresh bull cross of the oversold condition, which is good sign for further upside continuation.
Intraday support is set at the price of $1.706
Relevance up to 08:00 2022-11-10 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.
