FX.co ★ Analysis of Gold for June 06, 2023 - First upside objective reached nad potential for the further rally

Technical analysis:

Gold has been trading upside as I expected. The market reached first upside objective at $1.960 and I see potential for the further rally towards next upside objectives.

Due to the mid-long term upside trend and the shallow pullback, I see potential for the further rally towards upside references.

Next upside objectives are set at $1.968 and $1.975

Stochastic oscillator is showing oversold condition, which is good sign for the further upside movement.

Intrtaday support is set at the price of $1.955