FX.co ★ Analysis of Gold for January 19,.2023 - Rejection fo the key support zone

Technical analysis:

Gold has been trading sideways at the price of $1.908 and I found rejection of the support zone at $1.897, which is good sign for the upside movement.

Trading recommendation:

Due to the rejection of the key support zone in the background, I see potential for the further growth towards upside references.

Watch for the potential buying opportunities with the upside objectives at $1.921 and $1.928

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

Key support is set at the price of $1.897