FX.co ★ Analysis of Gold for June 08, 2023 - Potential for the rally

Technical analysis:

Gold has been trading downside yesterday from the mid day but the Gold found support at the price of $1.940 and I see potential for the rejection and upside movement.

Due to the mid-long term upside trends and the rejection of the support cluster, I see potential for the further upside movement towards upside references.

Upside objectives are set at the price of $1.954 and $1.967

MACD oscillator is showing neutral reading and potential for upside continuation..

Support cluster is set at the price of $1.940