FX.co ★ Analysis of Gold for June 09, 2023 - First upside objective reached and potential for further upside movement

Technical analysis:

Gold has been trading upside as I expected and the market reached first upside objective at price of $1.966. Anyway, I see potentia lfor the further upside continuation towards next reference points.

Due to the mid-long term upside trends and strong momentum to the upside in the background, I see potential for the further rally towards next reference point.

Next upside objective is set at the price of $1.982

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

Support cluster is set at the price of $1.940