FX.co - Analysis of Gold for December 23,.2022 - Breakout of the trading range to the upside and potential for the growth

2022-12-23T08:00:51

Relevance until2022-12-24

Technical analysis:

Analysis of Gold for December 23,.2022 - Breakout of the trading range to the upside and potential for the growth

Gold has been trading upside this morning and I found breakout of the overnight trading range, which is good sign for the further upside movement.

Trading recommendation:

Due to the breakout of the trading range to the upside this morning and strong upside momentum, I see potential for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.810

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

Key support is set at the price of $1.791

*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 December 23,.2022 - Breakout of the trading range to the upside and potential for the growth