FX.co ★ Analysis of Gold for April 07,.2022 - Upside breakout of mini contraction

Technical analysis:

Gold has been trading upside today and I found that mini upside breakout of the contraction in the background, which can be sign for further rally.

Trading recommendation:

Due to the breakout of the mini contraction in the background and open drive this morning to the upside , I see further bullish movement.

Watch for potential buying opportunities on the intraday dips with the upside objectives at $1.942 and $1.950.

Stochastic oscillator is showing fresh bull cross, which is good confirmation for further upside movement.

Key support is set at the price of $1.916