FX.co ★ Analysis of Gold for June 13, 2023 - Potential for the further rally

Technical analysis:

Gold has been trading inside of the multi day triangle pattern but I see potential for the upside breakout. In the background, Gold already broke downside channel, which is good sign for the further higher prices.

Due to the strong mid and long term upside trend and the potential breakout of the triangle pattern, I see potential for the further upside movement towards next reference point.

Upside objectives are set at the price of $2.000, $2.040 and $2.080

MACD oscillator is showing upside reading, which is good sign for the further higher prices.

Key support is set at the price of $1.935