FX.co - Analysis of Gold for February 09,.2023 - Potential for the upside breakout

2023-02-09T09:31:34

Relevance until2023-02-10

Technical analysis:

Analysis of Gold for February 09,.2023 - Potential for the upside breakout

Gold has been trading sideways at the price of $1.879 and I see potential for the further upside breakout.

Trading recommendation:

Due to the trading range regime, I see potential for the breakout mode in the play.

Watch for the potential buying opportunities in case of the re-break of the resistance at $1.886.

Upside objectives are set at $1.899 and $1.908

Support is set at the price of $1.860

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for February 09,.2023 - Potential for the upside breakout