Analysis of Gold for October 23, 2023 – Rejection of the support zone
October 23, 2023 9:26 am
Technical analysis:
Gold has been trading upside this morning and I found rejection of the support zone at $1.961 and there is the chance for the higher prices.
As long as the support zone around $1.957 can hold, higher prices might be in the play and the test of $1.997. The short-term trend is still to the upside.
In case of the downside breakout of the support at $1.1957, there is the chance for the downside movement towards lower reference at $1.937
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside this morning and I found rejection of the support zone at $1.961 and there is the chance for the higher prices.
As long as the support zone around $1.957 can hold, higher prices might be in the play and the test of $1.997. The short-term trend is still to the upside.
In case of the downside breakout of the support at $1.1957, there is the chance for the downside movement towards lower reference at $1.937
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: