FX.co ★ Analysis of Gold for November 16,.2022 - Range breakout in play

Technical analysis:

Gold has been trading upside as I expected and I see triangle pattern in creation, which is sign for the potential breakout play.

Trading recommendation:

Due to the strong upside pressure in the background and triangle pattern in creation, I see potential for bigger growth.

Watch for the buying opportunities if you see the breakout of $1.785 with the upside objective at $1.800.

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

Key support is set at the price of $1.767