FX.co ★ Analysis of Gold for July 17, 2023 - Potential end of the pullback

Technical analysis:

Gold has been trading sideways this morning but I see potential for the further upside continuation due to the lack for sellers and upside momentum in the background.

Due to the lack of sellers, breakout of the supply trend-line and bullish condition in the background, I see potential for the further rally towards upside references.

Upside objectives are set at the price of $1.970 and $1.982

RSI oscillator is showing oversold condition and fresh flip up, which is good sign for the further upside movement.

Key support is set at the price of $1.950