FX.co ★ Analysis of Gold for December 15,.2021 - Watch for potetnial rotational day

Technical analysis:

Gold has been trading downside as I expected yesterday. Both downside targets were reached. Today, expect sideways day and even potential for the upside correction.

Trading recommendation:

Due to strong downside yesterday, I see potential for sideways market today and even upside correction.

Watch for buying opportunities towards upper reference points at $1,773 and $1,778

Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside movement.

Support level is set at the price of $1,766