FX.co ★ Analysis of Gold for December 30,.2022 - Potential for the downside movement

Technical analysis:

Gold has been trading downside and I found rejection of the key resistance cluster at $1.820. There is chance for further downside movement.

Trading recommendation:

Due to the rejection of the strong resistance at $1.820, I see potential for the further downside movement towards lower references.

Watch for the potential selling opportunities on the rallies with the downside objective at the price of $1.810.

Stochastic oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.

Key resistance is set at the price of $1.820