Gold Has Been Trading Downside This Morning But Yellow Metal Has Potential For The Upside Movement| FXMAG.COM

Technical analysis:
Trading recommendation:

Technical analysis:
✕

Gold has been trading downside this morning and the market failed to break and hold below swing low at $1.860.

Trading recommendation:

Due to failed breakout of the support at $1.860 in the background and the longer term upside trend, I see potential for the upside movement.

Watch for the potential buying opportunities on the intraday dips with the upside objective at $1.890 and $1.900.

MACD oscillator is showing bullish divergence, which is another sign for the upside movement.

Key support is set at the price of $1.860

Relevance up to 09:00 2023-02-11 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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Peter Jacimovic

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