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07.02.202310:33 Forex Analysis & Reviews: Analysis of Gold for February 07,.2023 - Potential for the brekaout of the triangle

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Technical analysis:

Gold has been trading sideways in last 24 hours and I see potential for the breakout of the range to the upside.

Trading recommendation:

Due to the sideways regime and long term upside trend, I see potential for the upside movement today.

Watch for the potential buying opportunities in case of the upside breakout of the resistance at $1.880.

Upside objective is set at the price of $1.901.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $1.860

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