FX.co - Analysis of Gold for July 11, 2023 - Breakout of the resistance cluster

2023-07-11T08:47:13

Relevance until2023-07-12

Technical analysis:

Analysis of Gold for July 11, 2023 - Breakout of the resistance cluster

Gold has been trading upside this morning and I found breakout of the key resistance cluster at the price of $1.934

Due to the upside intraday momentum and the breakout of the resistance cluster I see potential for the further growth towards upside reference.

Upside objective is set at the price of $1.967

MACD oscillator is showing fresh upside momentum, which is good confirmation for the further growth.

Support is set at the price of $1.900

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for July 11, 2023 - Breakout of the resistance cluster