FX.co - Analysis of Gold for December 07,.2021 - Trading range in play and potential downside rotation

2021-12-07T12:36:35

Relevance until2021-12-08

Technical analysis:

Analysis of Gold for December 07,.2021 - Trading range in play and potential downside rotation

Gold has been trading sideways at the price of $1,783 and I expect more rotation during the day.

Trading recommendation:

Due to flat rotational day and upside extreme at the price of $1,784, watch for potential downside rotation.

Downside objective is set at the price of $1,777.

Stochastic is showing potential for the bearish divergence, which is sign for the potential downside rotation.

Resistance is set at the price of $1,783

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for December 07,.2021 - Trading range in play and potential downside rotation