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FX.co ★ Analysis of Gold for February 09,.2022 - Breakout of the contraction to the upside

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Forex Analysis:::2022-02-09T13:50:30

Analysis of Gold for February 09,.2022 - Breakout of the contraction to the upside

Technical analysis:

Analysis of Gold for February 09,.2022 - Breakout of the contraction to the upside

Gold has been trading upside today and I found the breakout of the contraction in the background, which is good sign for further upside continuation.

Trading recommendation:

Due to the breakout of the contraction in the background, I see possible upside continuation towards upside reference points.

Watch for buying opportunities on the pullbacks with the upside objectives at $1,846 and $1,852.

Support level is set at $1,824

Analyst InstaForex
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