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Technical analysis

08.12.202309:02 Forex Analysis & Reviews: Analysis of Gold for December 08, 2023 - Key resistance cluster on the test

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Technical analysis:

Exchange Rates 08.12.2023 analysis

Gold has been trading sideways at the price of $2.029 and there is potential for the rejection of the key resistance cluster at $2.030 or the breakout mode.

In case of the rejection fo the resistance zone, there is the chance for the downside rotation towards lower level of bracket at $2.009

In cased of the upside breakout of the resistance at the price of $2.039, there is the chance for the upside movement towards $2.068

RSI oscillator is showing neutral reading around 50 level, which is sign of the indecision.

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