FX.co ★ Analysis of Gold for January 17,.2023 - Potetnial for the upside breakout

Technical analysis:

Gold has been trading downside but I see that Gold is the oversold condition, which can be a good sign for further rally.

Trading recommendation:

Due to the intraday oversold condition and strong upside trend in the background, I see potential for the further upside movement.

In case of the breakout of the $1.912, watch for buying opportunities with the upside objective at $1.928.

Stochastic is showing oversold condition and potential for the upside movement.

Key support is set at the price of $1.900