FX.co ★ Analysis of Gold for December 19, 2023 - Potential for the downside breakout

Technical analysis:

Gold has been trading sideways at the price of $2.024 and I see potential for the breakout mode in the next period.

In case of the downside breakout of the support at $2.020 and hold below, I see potential for the further drop towards lower references.

Downside objectives are set at the price of $2.008 and $1.996

RSI oscillator is showing reading around 50, which is sign of the indecision.

Key resistance level is set at the price of $2.032