FX.co ★ Analysis of Gold for December 14,.2021 - Watch for potential downside breakout

Technical analysis:

Gold has been trading sideways at the price of $1,784 and there is potential for the breakout.

Trading recommendation:

Due to sideways regime, watch for potential for breakout to the downside. There is the contraction on the H1 time-frame.

Key support level is set at $1,781 and if the prices breaks this zone, there is chance for drop towards $1,779 and $1,771.

Watch for selling opportunities in case of the breakdown....

Key resistance is set at the price of $1,790