FX.co ★ Analysis of Gold for December 12,.2022 - Rejection of the resistance and potential for the downside rotation

Technical analysis:

Gold has been trading upside this morning but I found strong intraday resistance at the price of $1.790 and I see potential for the further downside movement.

Trading recommendation:

Due to the strong resistance on the test, I see potential for the downside movement towards lower references.

Downside objectives are set at the price of $1.785 and $1.781

MACD oscillator is showing downside reading, which is good indication for the further downside movement.