FX.co - Analysis of Gold for December 22,.2021 - Potential end of the downside correction

2021-12-22T12:34:39

Relevance until2021-12-23

Technical analysis:

Analysis of Gold for December 22,.2021 - Potential end of the downside correction

Gold has been trading upside most recently and I see potential for the further upside movement.

Trading recommendation:

Due to rejection of the key support at the price of $1,785 and the breakout of the contraction, I see potential for the further upside movement.

Watch for buying opportunities on the intraday pullbacks with the upside objectives at $1,800 and $1,813

Stochastic is showing convergence and oversold condition, which is good sign for further rise.

Key support is set at the price of $1,785

*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 22,.2021 - Potential end of the downside correction