For Traders

Analytical Reviews

Technical analysis

02.12.202210:20 Forex Analysis & Reviews: Analysis of Gold for December 02,.2022 - First upside objective reached and potetnial for further growth

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

Gold has been trading upside as I expected and the price has reached our first upside objective at $1.800. Anyway, I see potential for further growth due to the strong uspide momentum.

Trading recommendation:

Due to the strong upside pressure in the background and strong upside trend, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the next main upside objectives at $1.835 and $1.855.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $1.748

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.