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08.12.202209:09 Forex Analysis & Reviews: Analysis of Gold for December 08,.2022 - Rejection of the key support nad potential for bigger growth

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Technical analysis:

Exchange Rates 08.12.2022 analysis

Gold has been trading upside as I expected and the price has rejected of the key support cluster at $1.765, whic his good sign for further growth.

Trading recommendation:

Due to the upside trend in the background and rejection of the key support, I see potetnial for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $1.804 and $1.840

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

Key support is set at the price of $1.865

Petar Jacimovic
Analytical expert of InstaForex
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