FX.co ★ Analysis of Gold for March 24,.2022 - Buyers in control

Technical analysis:

Gold has been trading upwards as I expected. The price reached first upside objective at the price of $1.950. Anyway, I still see potential for further rally.

Trading recommendation:

Due to the breakout of the downside channel and strong upisde momentum, I see potential for upside continuation.

Watch for buying opportunities on the intraday pullbacks with upside objectives at $1.963 and $1.971.

Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside movement.

Support level is set at the price of $1.937