empty
 
 
01.12.2023 10:43 AM
Analysis of Gold for December 01, 2023 - Downside channel in progress

Technical analysis:

This image is no longer relevant

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.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback