FX.co ★ Analysis of Gold for January 12,.2023 - Potential for the breakout of the trading range

Technical analysis:

Gold has been trading sideways at the price of $1.880 but I see potential for the upside continuation and the breakout play.

Trading recommendation:

Due to the trading range condition, I see potential for the breakout play to the upside towards the upper reference.

Watch for the potential buying opportunities with the upside objective at $1.900.

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

Key support is set at the price of $1.868