FX.co ★ Analysis of Gold for January 24,.2023 - Breakout of the rising channel

Technical analysis:

Gold has been trading upside and I found that Gold is holding above the rising channel, which is sign that buyers are in control and that we may see further growth.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the upside channel, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.980

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

Key support is set at the price of $1.910