Analysis of Gold for April 14, 2023 – Potential for the upside continuation
April 14, 2023 8:23 am
Technical analysis:
Gold has been trading sideways at the price of $2.040 but I see potential for the upside continuation in the next period.
Due to the strong upside cycle in the background and build of higher lows on hourly plus trading above key resistance zone $2.033, I see potential for the further upside continuation.
Next upside objective is set at $2.070
MACD oscillator is showing bullish reading, which is good sign for the further upside movement.
Short-term support is set at the price of $2.033-$2.028
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold has
been trading sideways
at the price of $2.040 but I see potential for the upside
continuation in the next period.
Due
to the
strong upside cycle in the background and
build
of higher lows on hourly plus trading above key resistance zone
$2.033, I see potential for the further upside continuation.
Next
upside objective is set at $2.070
MACD
oscillator is showing bullish
reading,
which is good sign for the further upside
movement.
Short-term
support
is set at the price of
$2.033-$2.028
The material has been provided by InstaForex Company – www.instaforex.com
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