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Gold has been trading upside as I expected. The price is heading towards first upside objective and I see no signs for the reversal.
Trading recommendation:
Due to the strong upside pressure in the background and breakout of the multi week range, I see potential for further growth.
Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.794 and $1.802.
MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.
Key support is set at the price of $1.747
Relevance up to 09:00 2022-11-16 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.
