Analysis of Gold for May 03, 2023 – Breakout of the consolidation to the upside
May 3, 2023 7:23 am
Technical analysis:
Gold has been trading upside as I expected and the price has broke the multi-day trading range and I see potential for the further growth.
Due to the breakout of the tight consolidation with the strong momentum and the higher time-frame upside trend, I see potential for the further growth.
Upside objectives are set at the price of $2.047 and $2.074
MACD oscillator is showing upside reading, which is another sign for the further upside movement.
Key support is set at the price of $1.975
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading
upside
as I expected and the price has broke the multi-day trading range and
I see potential for the further growth.
Due
to the breakout of the tight consolidation with the strong momentum
and the higher time-frame upside trend, I see potential for the
further growth.
Upside
objectives are set at the price of $2.047 and $2.074
MACD
oscillator is showing upside
reading, which is another sign for the further upside movement.
Key
support is set at the price of $1.975
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: