FX.co ★ Analysis of Gold for October 12, 2023 - Buyers in control and potential for teh further rally

Technical analysis:

Gold has been trading upside today and the price has reached first upside objective at $1.877 but I see potential for the further upside movement towards second objective.

Due to the bullish short-term trend and the momentum to the upside, I see potential for the further rally towards next upside reference.

Upside objective is set at the price of $1.900

RSI oscillator is showing bullish trend condition, which is another good confirmation for the further rally.

Key support level is set at the price of $1.860