FX.co ★ Analysis of Gold for November 02,.2022 - Breakout of the triangle pattern and potentia lfor bigger growth

Technical analysis:

Gold has been trading upside as I expected and the price is heading towards upside objectives.I still see potential for further growth towards upside references.

Trading recommendation:

Due to the breakout of the downside channel and triangle pattern in the background, i see potential for further upside movement.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.666 and $1.673.

Stochastic oscillator is showing fresh upside break, which is strong sign that buyers are in control.

Key support is set at the price of $1.642