Technical analysis:
Gold has been trading downside yesterday but I found test and reject of the support cluster at the price of $1.950, which is a good sign for the further upside rotation.
Due to the upside cycle and the test-reject of the support cluster in the background, I see potential for the further rally towards upside reference.
Upside objective is set at the price of $1.988
MACD oscillator is showing decreasing in the downside momentum, which is good sing for the further rally.
Support level is set at the price of $1.950
