empty
 
 
26.12.2023 10:21 AM
Analysis of Gold for December 26, 2023 - Potential for the downside movement

Technical analysis:

This image is no longer relevant

Gold has been trading upside during the Tokyo session but market didn't have power to break previous swing high at $2.070, which is sign that there is the chance for the pullback.

Due to the weak really this morning and slow momentum, I see potential for the downside pullback towards lower reference.

Downside objective is set at the price of $2.040

RSI oscillator is showing reading around 60 and trend upside condition with potential for the pullback.

Key resistance is set at the price of $2.070

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