FX.co - Analysis of Gold for December 30,.2021 - Potential for upside continuation

2021-12-30T12:53:26

Relevance until2021-12-31

Technical analysis:

Analysis of Gold for December 30,.2021 - Potential for upside continuation

Gold has been trading sideways at the price of $1,804 but I see potential for the upside rotation due to support on the test.

Trading recommendation:

Due to potential double bottom and rejection of the Pitchfork trend lines, I see fuhrer upside rotation.

Watch for buying opportunities with the upside objective at $1,818

Stochastic is showing another fresh bull cross, which is good sign for further upside continuation.

Key support is set at the price of $1,790

*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 30,.2021 - Potential for upside continuation