Technical analysis of GOLD 06/02/2023
Gold on (1D) is in an uptrend. The price corrected from the resistance level 2080.80, found support at the level of 1931.90 (MA100), (lower line of the ascending channel) and is currently consolidating in the area of 1976.50.
The technical picture suggests continued growth within the channel with a target near the high of 2080.00.
A signal to cancel the continuation of growth will be a decrease in quotes below the level of 1930.00 (the lower limit of the rising channel), (MA100). This will mean an exit from the ascending channel and a possible continuation of the decline in quotes.
Created by Joshua Hayn