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FX.co ★ Analysis of Gold for January 06,.2023 - Rejection of the support zone

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Forex Analysis:::2023-01-06T06:53:29

Analysis of Gold for January 06,.2023 - Rejection of the support zone

Technical analysis:

Analysis of Gold for January 06,.2023 - Rejection of the support zone

Gold has been trading downside in the background but the support zone at $1.825 held successful and I see potential for the upside rotation.

Trading recommendation:

Due to the test and reject of the support zone at $1.825, I see potential for the rally towards upper references.

Watch for the potential buying opportunities with the upside objectives at $1.846 and $1.856.

Stochastic oscillator is showing oversold condition and fresh bull cross, which is sign for the further rally.

Key support zone is set at $1.825

Analyst InstaForex
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