FX.co - Analysis of Gold for July 14, 2023 - Tight consolidation and potential for the breakout

2023-07-14T11:43:41

Relevance until2023-07-15

Technical analysis:

Analysis of Gold for July 14, 2023 - Tight consolidation and potential for the breakout

Gold has been trading upside in the background and in the tight sideways range. There is potential for the breakout of the tight range.

In case of the breakout of resistance of the tight range at $1.964, I see potential for the rally towards $1.969 and $1.981

In case of the breakout of the support of the tight consolidation at $1.952, I see potential for the downside movement towards $1.932

*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 14, 2023 - Tight consolidation and potential for the breakout