FX.co ★ Analysis of Gold for January 07,.2022 - Watch for potential bigger downside breakout

Technical analysis:

Gold has been trading downside yesterday as I expected. The price tested the first objective at the price of $1,789. Anyway, there is potential for another downside breakout.

Trading recommendation:

Watch for the breakout of the important pivot support at $1,784 t confirm further downside movement.

Downside objectives will be set at the price of $1,762 and $1,755

Resistance level is set at the price of $1,795 and $1,798