FX.co ★ Analysis of Gold for January 23,.2023 - Potential for the upside movement

Technical analysis:

Gold has been trading downside this morning but the rising trend-line support is on the test and there is chance for the upside movement.

Trading recommendation:

Due to the test of the rising support and strong upside trend from longer frames, I see potential for the upside rotation.

Watch for the potential buying opportunities with the upside objective at $1.933

MACD oscillator is showing upside reading, which is sign that buyers are still strong and that there is chance for further rise.

Key support is set at the price of $1.920