FX.co ★ Analysis of Gold for November 11,.2022 - Strong upside pressure and potential for further growth

Technical analysis:

Gold has been trading upside with the strong momentum. I found breakout for the consolidation range, which is good sign for further growth.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key multi-month resistance at the price, I see potential for further big growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.787 and $1.806.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $1,745