Analysis of Gold for May 05, 2023 – Potential for the further growth
May 5, 2023 7:22 am
Technical analysis:
Gold has been trading upside in the background and I see potential for the further growth due to the strong upside trend and no bigger sign of weakness.
Due to the strong upside momentum and breakout of the range in the background, I see potential for the further growth towards next upside reference.
Upside objective is set at the price of $2.140
MACD oscillator is showing fresh new momentum, which is another sign for the upside continuation.
Short-term 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
upside
in the background and I see potential for the further growth due to
the strong upside trend and no bigger sign of weakness.
Due
to the strong upside momentum and breakout of the range in the
background, I see potential for the further growth towards next
upside reference.
Upside
objective is set at the price of $2.140
MACD
oscillator is showing fresh new momentum, which is another sign for
the upside continuation.
Short-term
support is set at the price of $1.970
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: