FX.co ★ Analysis of Gold for November 09,.2022 - Bull flag pattern and potential for bullish continuation

Technical analysis:

Gold has been trading upside with the strong momentum in the background and I see potential for the upside continuation due to the bullish flag pattern.

Trading recommendation:

Due to the narrow pullback and bull flag pattern in creation, I see potential for further rally towards next upside reference.

Watch for buying opportunities with the upside objective at $1.724

Stochastic oscillator is showing fresh bull cross of the oversold condition, which is good sign for further upside continuation.

Intraday support is set at the price of $1.706