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Technical analysis:
Gold has been trading upside in the background and I found breakout of the resistance at $2.045, which is sign that buyers are in control and that we might see upside movement.
Due to the breakout of the resistance and the upside reading on RSI oscillator, I see potential for the further rally towards upisde reference.
Upside objective is set at $2.069
Alternative scenario is potetnial fake breakout and if the market can trade lower into $2.040 area, there would be chance for the downside movement towards $2.030
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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