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21.12.2023 11:00 AM
Analysis of Gold for December 21, 2023 - Potential for the breakout of the triangle pattern

Technical analysis:

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Gold has been trading sideways at the price of $2.035 and there is potential for the potetnial breakout of the triangle pattern.

In case of the upside breakout of the resistance at $2.050, there is the chance for the rally towards upside reference at $2.070

In case of the downside breakout of the support at $2.025, there is the chance for the further drop towards $2.000

RSI oscillator is showing reading around 50, which is the sign for the indecision.

Summary
Urgency
Analytic
Petar Jacimovic
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