FX.co - Analysis of Gold for April 19, 2023 - Rejection of the key support in the background....

2023-04-18T06:59:31

Relevance until2023-04-19

Technical analysis:

Analysis of Gold for April 19, 2023 - Rejection of the key support in the background....

Gold has been downside yesterday but I found rejection of the key support at the price of $1.982, which is good sign for the further rally...

Due to the rejection of the key support zone in the background and upside cycle, I see potential for the further growth on the Gold.

Upside objectives are set at the price of $2.014 and $2.042

MACD oscillator is showing decreasing in the bear reading, which is sign that sellers are losing power and that buyers are coming.

Key support is set at the price of $1.982

*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 April 19, 2023 - Rejection of the key support in the background....