12.11.201916:51 Forex Analysis & Reviews: Gold 11.12.2019 - Bullish divergence in creation, watch for potential upside

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Gold has been trading sideways at the price of $1.454 but in the oversold condition. My advice is to watch for potential buying opportunities with the upward targets at $1.465 and $1.472.

Yellow rectangles - Resistance levels and upward objectives

Rising trendline - Expected path

MACD oscillator is showing 3 pushes down and bullish divergence , which is sign that sellers are losing power on the downside and that upside is expected. Key support level is set at $1.448 and resistance levels at $1.465 and $1.472.

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