FX.co ★ Analysis of Gold for December 13,.2022 - Potential for the downside movement

Technical analysis:

Gold has been trading downside in the background and I found breakout of the rising channel, which is sign that sellers are in control.

Trading recommendation:

Due to the breakout of the rising channel in the background, i see potential for further downside movement.

Watch for the potential selling opportunities on the rallies with the downside objective at $1.765.

MACD oscillator is showing neutral reading with faster line sloping to the downside.

Key resistance set at the price of $1.805