FX.co ★ Analysis of Gold for January 11,.2023 - Breakout of the trading range to the upside and potential for the growth

Technical analysis:

Gold has been trading upside today and I found breakout of the well defined trading range to the upside, which is good sign the further upside continuation.

Trading recommendation:

Due to the breakout of the well defined trading range in the background and upside trend, I see potential for the further growth towards next upside reference.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.890 and $1.900

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

Key support is set at the price of $1.880