FX.co - Analysis of Gold for December 14, 2023 - Resitance zone is on the test

2023-12-14T08:10:26

Relevance until2023-12-15

Technical analysis:

Analysis of Gold for December 14, 2023 - Resitance zone is on the test

Gold has been trading upside after the FOMC yesterday and I see that resistance cluster is on the test.

In case of the rejection of the resistance at $2.050, there is the chance for the lower prices towards the upside gap around $2.000 level.

In case of the upside breakout of the resistance at $2.050 and hold above, there is the chance for teh higher prices towards $2.087

RSI oscillator is showing reading above 60 mark.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for December 14, 2023 - Resitance zone is on the test