FX.co ★ Analysis for Gold for January 27, 2023 - Potential for the upside movement

Technical analysis:

Gold has been trading downside and the price is testing the key support zone at the price of $1.919. There is the chance for the upside rotation.

Trading recommendation:

Due to the test of the strong support zone at the price of $1.919, I see potential for the further upside movement towards upside zone.

Watch for the potential buying opportunities with the upside objectives at $1.933 and $1.940.

Stochastic oscillator is showing bullish divergence and oversold condition, which is sign that buyers can join...

Key support is set at the price of $1.919