FX.co ★ Analysis of Gold for September 01, 2023 - Buyers in control and potential for the further upside continuation

Technical analysis:

Gold has been trading downside in the past 24 hours at the price of $1.939 but I see potential for the completion of the downside correction and further upside movement.

Due to the short-term upside trend ad the light pullbacks in the background, I see potential for the further growth towards upside references.

Upside objectives are set at the price of $1.969 and $1.982

MACD oscillator is showing strong momentum in the background, which is good sign for the further upside continuation.

Intraday support level is set at the price of $1.937-$1.934