Analysis of Gold for September 04, 2023 – Buyers in control and potential for the further upside continuation
September 4, 2023 8:26 am
Technical analysis:
Gold has been trading sideways at the price of $1.943 but I see potential for the further rally due to rejection of the support zone in the background.
Due to the rejection of the support in the background and the short-term upside trend, I see potential for the further growth toward upside reference.
Upside objective is set at the price of $1.952
MACD oscillator is showing upside reading, which is good sign the buyers are in control.
Key support is set at the price of $1.934
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading sideways at the price of $1.943 but I see potential for the further rally due to rejection of the support zone in the background.
Due to the rejection of the support in the background and the short-term upside trend, I see potential for the further growth toward upside reference.
Upside objective is set at the price of $1.952
MACD oscillator is showing upside reading, which is good sign the buyers are in control.
Key support is set at the price of $1.934
The material has been provided by InstaForex Company – www.instaforex.com
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