Analysis of Gold for October 12, 2023 – Buyers in control and potential for teh further rally
October 12, 2023 9:22 am
Technical analysis:
Gold has been trading upside today and the price has reached first upside objective at $1.877 but I see potential for the further upside movement towards second objective.
Due to the bullish short-term trend and the momentum to the upside, I see potential for the further rally towards next upside reference.
Upside objective is set at the price of $1.900
RSI oscillator is showing bullish trend condition, which is another good confirmation for the further rally.
Key support level is set at the price of $1.860
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside today and the price has reached first upside objective at $1.877 but I see potential for the further upside movement towards second objective.
Due to the bullish short-term trend and the momentum to the upside, I see potential for the further rally towards next upside reference.
Upside objective is set at the price of $1.900
RSI oscillator is showing bullish trend condition, which is another good confirmation for the further rally.
Key support level is set at the price of $1.860
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: