FX.co - Analysis of Gold for December 23,.2021 - Potential for the downside breakout

2021-12-23T13:08:07

Relevance until2021-12-24

Technical analysis:

Analysis of Gold for December 23,.2021 - Potential for the downside breakout

Gold has been trrading sideways at the price of $1,805. I see potential for the downside movement in case of the breakout to the downside.

Trading recommendation:

In case of the downside breakout of the key pivot at $1,803, watch for selling opportunities and continuation al patterns for the downside.

Downside objectives are set at the price of $1,799 and $1,797

Stochastic oscillator is showing oversold condition but with early upside breakout.

Key resistance is set at $1,808

*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 23,.2021 - Potential for the downside breakout