Support & Resistance

Examining the Prospects of Gold on January 12,2023 – Is There a Possibility of Breaking Out of the Trading Range?

Analysis of a technical nature:

A picture depicting analytics can be seen below:


The price of gold has been relatively steady at $1.880; however, I believe there is a possibility for the price to continue climbing and exceed that value.

It is advised that trading should be done and a suggestion is given.

I anticipate the possibility of an upward breakout from the current trading range, which could see prices reach the upper reference point.

Look out for the potential chances to purchase, with the goal of the price reaching $1.900.

Stochastic oscillator readings indicate that buyers have the upper hand, as evidenced by the recent surge in upside momentum.

The value of key support is determined to be $1.868.

Andrew Johnson is a seasoned journalist with a keen interest in the commodity market. He is a regular contributor to, where he covers the latest news, trends, and analysis related to the commodity industry. With years of experience under his belt, Andrew has established himself as a reliable source of information on the global commodity market.