FX.co ★ Analysis of Gold for January 16,.2023 - Potential for the upside rotation

Technical analysis:

Gold has been trading downside this morning and I found the test of the key support zone at the price of $1.910. There is potential for the potential reaction from buyers.

Trading recommendation:

Due to the intraday oversold condition and test of the support zone, I see potential for the upside movement later today.

Watch for potential buying opportunities in case of the rejection of the support.

Stochastic oscillator is showing oversold condition and potential for the upside rotation.

Key support is set at the price of $1.910-$1.900