FX.co ★ Analysis of Gold for April 11, 2023 - Breakout of the mini downside channel

Technical analysis:

Gold has been trading upside as I expected and the Gold did breakout of the mini downside channel in the background.

Due to the rejection fo the key support at the price of $1.987 and the breakout of the mini downside channel I see potential for the further upside movement.

Upside objectives are set at the price of $2.025

Stochastic oscillators is showing upside reading, which is good sign for the further rally....

Key support is set at the price of $1.987