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FX.co ★ Analysis of Gold for April 14, 2023 - Potential for the upside continuation

Analysis of Gold for April 14, 2023 - Potential for the upside continuation

Technical analysis:

Analysis of Gold for April 14, 2023 - Potential for the upside continuation

Gold has been trading sideways at the price of $2.040 but I see potential for the upside continuation in the next period.

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Due to the strong upside cycle in the background and build of higher lows on hourly plus trading above key resistance zone $2.033, I see potential for the further upside continuation.

Next upside objective is set at $2.070

MACD oscillator is showing bullish reading, which is good sign for the further upside movement.

Short-term support is set at the price of $2.033-$2.028

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