Analysis of Gold for October 25, 2023 – Potentiall for the breakout of the bull flag fomration
October 25, 2023 1:25 pm
Technical analysis:
Gold has been trading sideways at the price of $1.937 but I see potential for the bullish continuation in the case of the breakout of the resistance.
Due to the strong underlying upside trend and potential for the bull flag pattern in creation, I see potential for the further growth in case of the breakout of resistance at $1.980
Upside objectives are set at the price of $1.994 and $2.020
RSI oscillator is showing positive reversals, which is good is sign for the further higher price.
Support is set at the price of $1.951
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading sideways at the price of $1.937 but I see potential for the bullish continuation in the case of the breakout of the resistance.
Due to the strong underlying upside trend and potential for the bull flag pattern in creation, I see potential for the further growth in case of the breakout of resistance at $1.980
Upside objectives are set at the price of $1.994 and $2.020
RSI oscillator is showing positive reversals, which is good is sign for the further higher price.
Support is set at the price of $1.951
The material has been provided by InstaForex Company – www.instaforex.com
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