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FX.co ★ Analysis of Gold for August 29, 2023 - Potential for the further growth

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Forex Analysis:::2023-08-29T07:00:33

Analysis of Gold for August 29, 2023 - Potential for the further growth

Technical analysis:

Analysis of Gold for August 29, 2023 - Potential for the further growth

Gold has been trading upside yesterday and I found breakout of the resistance at $1.922, which is good sign for the further rally.

Due to the breakout of the resistance cluster and the upside momentum, I see potential for the further growth towards upside reference.

Upside objective is set at the price of $1.942 and $1.946

MACD oscillator is showing upside momentum with no signs for the reversal....

Intraday support is set at the price of $1.922

Analyst InstaForex
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