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06.12.202209:06 Forex Analysis & Reviews: Analysis of Gold for December 06,.2022 - Key support on the test and potential for fruther growth

Technical analysis:

Exchange Rates 06.12.2022 analysis

Gold has been trading downside at the price of $1.768. Anyway, I see potential for the further rally due to strong support on the test.

Trading recommendation:

Due to the strong support and multi Fibonacci confluence on the test, I see potential for the further upside movement.

Watch for the potential buying opportunities with the upside objective at the price of $1.805

Stochastic Oscillator is showing oversold condition bull cross, which his good sign for further rally.

Key support is set at the price of $1.760

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Petar Jacimovic,
Analytical expert of InstaSpot
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