FX.co - Analysis of Gold for April 24, 2023 - Potential for the upside movement

2023-04-24T07:48:41

Relevance until2023-04-25

Technical analysis:

Analysis of Gold for April 24, 2023 - Potential for the upside movement

Gold has been trading downside in the background and I see key support cluster at the price of $1.973. I see potential for the upside movement today.

Due to the strong upside condition on the longer time-frame and the key support on the test, I see potential for the further upside movement.

Upside objectives are set at the price of $2.009 and $2.045

MACD oscillator is showing decreasing in the downside momentum, which is good for the further upside movement.

Key support zone is set at the price of $1.971

*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 24, 2023 - Potential for the upside movement