FX.co ★ Analysis of Gold for April 26, 2023 - Potential for higher prices

Technical analysis:

Gold has been trading upside yesterday and I found that market is making higher lows and there is potential for the upside continuation today.

Due to the strong upside cycle in the background and the breakout of the inside day formation yesterday, I see potential for the further rally.

Upside objectives are set at the price of $2.011 and $2.045

MACD oscillator is showing upside reading and increase in momentum, which is good sign for the further higher prices.

Support is set at the price of $1.976