Analysis of Gold for October 23, 2023 - Rejection of the support zone

Technical analysis:

Gold has been trading upside this morning and I found rejection of the support zone at $1.961 and there is the chance for the higher prices.

As long as the support zone around $1.957 can hold, higher prices might be in the play and the test of $1.997. The short-term trend is still to the upside.

In case of the downside breakout of the support at $1.1957, there is the chance for the downside movement towards lower reference at $1.937

Analysis are provided by InstaForex

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