FX.co ★ Analysis of Gold for January 25,.2023 - Potential for the upside continuation

Technical analysis:

Gold has been trading downside this morning but there is the strong support zone and lower trend-line, which is sign that buyers can join.

Trading recommendation:

Due to the strong upside pressure in the background and potential for the upside continuation, I see further growth on the Gold

Watch for the potential buying opportunities in case of the breakout of the resistance at $1.938.

Upside objective is setat the price of $1.963

Stochastic oscillator is showing oversold condition and fresh bull cross, which is good sign for further upside movement.

Key support is set at the price of $1.920