FX.co - Analysis of Gold for April 10, 2023 - Key support at the price fo $1.990 on the test

2023-04-10T08:09:42

Relevance until2023-04-11

Technical analysis:

Analysis of Gold for April 10, 2023 - Key support at the price fo $1.990 on the test

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for April 10, 2023 - Key support at the price fo $1.990 on the test