Analysis of Gold for April 28, 2023 – Potential for higher prices
April 28, 2023 8:25 am
Technical analysis:
Gold has been trading downside yesterday but I found strong rejection of the key support at the price of $1.973. I see potential for the further upside movement.
Due to the rejection of the key support in the background and the strong upside cycle on higher time-frames, I see potential for the further rally.
Upside objectives are set at the price of $2.010 and $2.045
Based on The Bollinger bands I found contraction and potential for the breakout mode in the next period.
Key support is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
yesterday
but I found strong rejection of the key support at the price of
$1.973.
I see potential for the further upside movement.
Due
to the rejection of the key support in the background and the strong
upside cycle on higher time-frames, I see potential for the further
rally.
Upside objectives are
set at the price of $2.010
and $2.045
Based
on The Bollinger bands I found contraction and potential for the
breakout mode in the next period.
Key
support is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
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