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05.12.202209:44 Forex Analysis & Reviews: Analysis of Gold for December 05,.2022 - First upside objective reached and potetnial for further growth

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Technical analysis:

Exchange Rates 05.12.2022 analysis

Gold has been trading upside as I expected and the price is heading towards the main upside objective. I see potential for further growth due to rejection of the key rising trend-line.

Trading recommendation:

Due to the rejection of the key support trendline and strong upside trend in the background, I see potential for further growth towards upper references.

Watch for the potential buying opportunities on the intraday dips with the 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 $1.780

Petar Jacimovic
Analytical expert of InstaForex
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