12.01.202310:39 Forex Analysis & Reviews: Analysis of Gold for January 12,.2023 - Potential for the breakout of the trading range

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Technical analysis:

Gold has been trading sideways at the price of $1.880 but I see potential for the upside continuation and the breakout play.

Trading recommendation:

Due to the trading range condition, I see potential for the breakout play to the upside towards the upper reference.

Watch for the potential buying opportunities with the upside objective at $1.900.

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

Key support is set at the price of $1.868

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