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25.12.2023 10:49 AM
Analysis of Gold for December 25, 2023 - Potential for the downside movement

Technical analysis:

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Gold has been trading downside in the background but I found that supply overcame demand, which is good sign for the further downside movement.

Due to the rejection of the resistance level in the background and supply present, I see potential for the further drop towards lower references.

Downside objectives are set at $2.032 and $2.017

RSI oscillator is showing downside rotation toward 50 level, which is sign od indecision and the breakout of the rising lows.

Key resistance is set at $1.270

Summary
Urgency
Analytic
Petar Jacimovic
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