Technical analysis:
Gold has been trading downside this morning but I found key support level on the test at the price of $1987. I see potential for the further rally.
Due to the strong upside trend and test-reject of the support level, I see potential for the further rally towards upper reference.
Upside objective is set at the price $2.030
Stochastic oscillator is showing oversold reading, which is good sign for further rally.
Key support is set at the price of $1.986