FX.co ★ Analysis of Gold for January 04,.2023 - Strong upside momentum

Technical analysis:

Gold has been trading upside this morning as I expected and there is chance for the further growth towards upside references due to strong upside momentum.

Trading recommendation:

Due to the breakout of the key trading range and strong upside momentum, I see potential for the further growth towards upside references.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.870 and $1.876

MACD oscillator is showing fresh bull reading, which is sign that buyers are in control

Key support is set at the price of $1.826