Analysis of Gold for May 30, 2023 – Potential fake breakout of the support
May 30, 2023 9:23 am
Technical analysis:
Gold has been trading downside this morning but I found potential fake breakout of the support zone at the price of $1.940, which is good sign for the further rally.
Due to the potential fake breakout of the support and the mid and long term trend upside, I see potential for the further growth towards upside references.
Upside objectives are set at the price of $1.982 and $2.000
Stochastic oscillator is showing fresh bull cross and bullish divergence, which is another good sign for the further upside movement.
Key support is set at $1.940
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Gold
has been trading downside
this morning but I found potential fake breakout of the support zone
at the price of $1.940, which is good sign for the further rally.
Due
to the potential
fake breakout of the support and the mid and long term trend upside,
I see potential for the further growth towards upside references.
Upside
objectives are set at the price of $1.982 and $2.000
Stochastic
oscillator is showing fresh bull
cross and
bullish divergence,
which is another good sign for the further upside
movement.
Key
support is set at $1.940
The material has been provided by InstaForex Company – www.instaforex.com
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