Analysis of Gold for July 14, 2023 – First upside objective has been reached, potential for the further growth
July 13, 2023 9:24 am
Technical analysis:
Gold has been trading upside as I expected and the price reached first upside objective at $1.967. There is the chance for the second target to be on the test.
Due to the breakout of the key resistance cluster at the price of $1.935 and the strong upside momentum, I see potetnial for teh further growth towards next upside reference.
Upside objective is set at the price of $1.981
MACD oscillator is showing fresh upside momentum, which is another confirmation for the strong buying power.
Key support is set at the price of $1.930
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading upside
as I expected and the price reached first upside objective at $1.967.
There is the chance for the second target to be on the test.
Due
to the breakout of
the key resistance cluster at the price of $1.935 and the strong
upside momentum, I see potetnial for teh further growth towards next
upside reference.
Upside
objective is set at the price of $1.981
MACD
oscillator is showing fresh upside
momentum, which is another confirmation for the strong buying power.
Key
support is set at the price of $1.930
The material has been provided by InstaForex Company – www.instaforex.com