Analysis of Gold for October 9, 2023 – Gap up above consolidation zone
October 9, 2023 7:24 am
Technical analysis:
Gold has been trading upside this morning and I found gap up trough the consolidation high ,which is sign that buyers are in control. Anyway, there is the key resistance zone $1.857-$1.862 which will be critical for the Gold direction.
In case of the breakout of the resistance at $1.860 and hold above, there is the chance for the higher prices towards $1.878.
In case of the rejection of the resistance zone, there is the chance for the gap fill and potential test of $1.833
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside this morning and I found gap up trough the consolidation high ,which is sign that buyers are in control. Anyway, there is the key resistance zone $1.857-$1.862 which will be critical for the Gold direction.
In case of the breakout of the resistance at $1.860 and hold above, there is the chance for the higher prices towards $1.878.
In case of the rejection of the resistance zone, there is the chance for the gap fill and potential test of $1.833
The material has been provided by InstaForex Company – www.instaforex.com
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