FX.co ★ Analysis of Gold for April 28, 2023 - Potential for higher prices

Technical analysis:

Gold has been trading downside yesterday but I found strong rejection of the key support at the price of $1.973. I see potential for the further upside movement.

Due to the rejection of the key support in the background and the strong upside cycle on higher time-frames, I see potential for the further rally.

Upside objectives are set at the price of $2.010 and $2.045

Based on The Bollinger bands I found contraction and potential for the breakout mode in the next period.

Key support is set at the price of $1.970