FX.co - Analysis of Gold for December 13,.2021 - Both upside objectives met, key pivot zone at $1.792

2021-12-13T12:48:11

Relevance until2021-12-14

Technical analysis:

Analysis of Gold for December 13,.2021 - Both upside objectives met, key pivot zone at $1.792

Gold has been trading upside as I expected. The Gold reached both upside objectives from Friday. There is big pivot zone at $1,792-$1,794.

Trading recommendation:

Strong supply zone at the price of $1,792-$1,794. Watch for the price action around this pivot zone to confirm further direction.

Bigger rejection of the supply zone can lead the price towards $1,785

Breakout on good momentum to the upside can lead the price towards $1,808

Stochastic oscillator is showing fresh bull cross and overbought condition....

*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 13,.2021 - Both upside objectives met, key pivot zone at $1.792