FX.co ★ Analysis of Gold for December 01, 2023 - Downside channel in progress

Technical analysis:

Gold has been trading inside of the downside channel and there is the chance for the upside breakout or the rejection fo the supply trend-line.

In case of the upside breakout of the resistance at $2.043, there is the chance for the rally towards $2.050 and $2.070

In case of the rejection of the supply trend-line, there is the chance for the downside movement towards lower reference at $2.030

RSI oscillator is trading around 55 level, which is sign of indecision.