Technical analysis:
Gold has been trading downside during the Tokyo session and the price has been reached my main downside objective at $1.690. Anyway, Gold reacted strongly from the support and now its on the way for the upside objective.
Trading recommendation:
Due to the strong rejection of the key support at $1.690, I see further upside movement towards next upside reference point.
Watch for the potential buying opportunities on the intraday dips with the upside objectives at $1.709 and $1.717.
Stochastic oscillator did show the bull divergence this morning, which is one of the reasons of the early morning rally.
Key support is set at the price of $1.690
Relevance up to 10:00 2022-09-08 UTC+2 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.