FX.co ★ Analysis of Gold for December 09,.2022 - Buyers in control and potential for the bigger growth

Technical analysis:

Gold has been trading upside as I expected and the price is trading near the first upside objective at $1.810. I still see potential for further growth due to the buyers in control and upside trend in the background.

Trading recommendation:

Due to the strong upside pressure in the background buyers in control, I see potential for the further upside movement.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.810 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 $1.765