Technical analysis:
Gold has been trading upside as I expected and the price is heading towards upside objectives.I still see potential for further growth towards upside references.
Trading recommendation:
Due to the breakout of the downside channel and triangle pattern in the background, i see potential for further upside movement.
Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.666 and $1.673.
Stochastic oscillator is showing fresh upside break, which is strong sign that buyers are in control.
Key support is set at the price of $1.642
Relevance up to 08:00 2022-11-03 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.
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