Gold Market: A Sign That Buyers Are In Control| FXMAG.COM

Trading recommendation:

Technical analysis:

gold market a sign that buyers are in control grafika numer 1

Gold has been trading upside and I found the breakout of the downside channel in the background, which is sign that buyers are in control and that we might see further growth.

Trading recommendation:

Due to the breakout of the rising downside channel in the background, I see potential for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at $1.665 and $1.637.

Stochastic oscillator is showing fresh bull divergences, which is good sign for further rally.

Key support is set at the price of $1.631

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Relevance up to 09:00 2022-11-02 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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