FX.co - Analysis of Gold for September 09,.2022 - Breakout of the key resistance at the price of $1.726

2022-09-09T08:24:54

Relevance until2022-09-10

Technical analysis:

Analysis of Gold for September 09,.2022 - Breakout of the key resistance at the price of $1.726

Gold has been trading upside in the background and there is the breakout of the supply trendline at $1.726, which is good sign for further rally.

Trading recommendation:

Due to the breakout of the supply trend-line and strong upside momentum, I see further rally.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.743 and $1.758.

Stochastic oscillator is showing the fresh bull cross, which is good sign for the further rally.

Key support is set at the price of $1.704

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for September 09,.2022 - Breakout of the key resistance at the price of $1.726