FX.co ★ Analysis of Gold for May 15, 2023 - Key support at the price of $2.000 held successfully

Technical analysis:

Gold has been trading upside this morning and I found rejection of the support level at $2.000, which is good sign for the further rise.

Due to the strong upside cycle on the Gold and the rejection of the support at $2.000, I see potential for the further growth towards upside references.

Upside objectives are set at the price of $2.045 and $2.080

Stochastic oscillator is showing fresh bull cross, which is another good sign for the further upside movement.

Key support is set at the price of $2.000