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FX.co ★ Analysis of Gold for October 13, 2023 - First upside objective has been reached, potential for the further rally

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Forex Analysis:::2023-10-13T09:07:49

Analysis of Gold for October 13, 2023 - First upside objective has been reached, potential for the further rally

Technical analysis:

Analysis of Gold for October 13, 2023 - First upside objective has been reached, potential for the further rally

Gold has been trading upside as I expected and the price has reached the first upside objective at $1.883 but I see potential for the further growth.

Due to the strong upside momentum and the bullish trend in the background, I see potential for the further growth towards next upside reference.

Upside objective is set at the price of $1.900

RSI oscillator is showing positive reversals, which is good sign for the further upside movement.

Key support is set at the price of $1.867

Analyst InstaForex
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