FX.co ★ Gold 12.13.2019 - Potential for the new down move on the Gold, watch for the breakout of the channel

Gold has been trading in consolidation phase for days. The price is still trading in the falling wedge cycle and most recently there is potential bull corrective structure that it may end. Yesterday, there was strong reaction from sellers, which is sign that sellers are still present.

Eventual breakout of the channel to dhe downside at $1.460 may confirm test of $1.446.

MACD oscillator is showing neutral condition with the slow line turned to the downside

Resistance levels are seen at $1.487 and $1.515

Main support level is set at the price of $1.446.