FX.co ★ Analysis of Gold for December 09,.2021 - Potential for upside bigger reaction

Technical analysis:

Gold has been trading downside today but I see support on the test at the price of $1,774 and potential for the upside reaction...

Trading recommendation:

Due to oversold intraday condition and the bull trend in progress , I see potential for the upside continuation.

Pitchfork channel is showing support level and rising trend, which is good sign for upside reaction.

Watch for buying opportunities with the upside objectives at the price of $1,786 and $1,792,

Stochastic is showing oversold condition, which is another sign for potential upside rotation.