Analysis of Gold for October 26, 2023 - Breakout of the supply trendline in the background

Technical analysis:

Gold has been trading upside in the background as I expected and I found breakout of the supply trend-line, which is good sign for the further rally.

Due to the strong upside condition and breakout of the supply trend-line, I see potential for the further rally towards upside references..

Upside objectives are set at $1.996 and $2.016

RSI oscillator is showing reading around 60, which is sign that buyers are in control.

Key support is set at the price of $1.952