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05.12.202314:27 विदेशी मुद्रा विश्लेषण और समीक्षा: Analysis of Gold for December 05, 2023 - Big reversal in the background and the breakout of the rising trendline

Technical analysis:

Exchange Rates 05.12.2023 analysis

Gold has been trading downside as I expected and the first downside objective at the price of $2.040 has been reached. Sellers are still in control and I see potential for the further downside movement.

Due to the strong reversal and buying climax in the background plus breakout of the rising trend-line, I see potential for the further downside movement towards next downside levels.

Downside objective is set at the price of $2.000

RSI oscillator is showing reading around 40, which is sign of the change for the potential trend from bullish to bearish.

Key resistance is set at the price of $2.075

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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