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Technical analysis

26.12.202310:21 Forex Analysis & Reviews: Analysis of Gold for December 26, 2023 - Potential for the downside movement

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Technical analysis:

Exchange Rates 26.12.2023 analysis

Gold has been trading upside during the Tokyo session but market didn't have power to break previous swing high at $2.070, which is sign that there is the chance for the pullback.

Due to the weak really this morning and slow momentum, I see potential for the downside pullback towards lower reference.

Downside objective is set at the price of $2.040

RSI oscillator is showing reading around 60 and trend upside condition with potential for the pullback.

Key resistance is set at the price of $2.070

Petar Jacimovic
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