FX.co ★ Analysis of Gold for December 08,.2022 - Rejection of the key support nad potential for bigger growth

Technical analysis:

Gold has been trading upside as I expected and the price has rejected of the key support cluster at $1.765, whic his good sign for further growth.

Trading recommendation:

Due to the upside trend in the background and rejection of the key support, I see potetnial for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.804 and $1.840

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $1.865