Analysis of Gold for May 08, 2023 – Rejection of the key support at $2.000
May 8, 2023 8:23 am
Technical analysis:
Gold has been trading downside on Friday due to the positive economic data in US but I found rejection of the key support at $2.000 and potential for the further upside continuation.
Due to rejection of the support zone and strong upside trend in the background, I see potential for the further growth.
Upside objectives are set at the price of $2.060 and $2.078
Short-term support is set at the price of $2.000
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading
downside
on Friday due to the positive economic data in US but I found
rejection of the key support at $2.000 and potential for the further
upside continuation.
Due
to rejection of the support zone and strong upside trend in the
background, I see potential for the further growth.
Upside
objectives are set at the price of $2.060 and $2.078
Short-term
support is set at the price of $2.000
The material has been provided by InstaForex Company – www.instaforex.com
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