Gold Challenging Its Trendline Support

٩ ديسمبر ٢٠٢١

Gold is challenging its long-term trendline support. However, gold's market movement doesn't seem that investors are scared about Omicron variation.

Breaking below $1760/1765 will invalidate its uptrend from August 2021. If we see gold price breaks below the $1760 price zone, we may go short. Our first target to the downside is $1725/1720, and the final target is the $1680/1685 price zone.

On the other hand, breaking above $1792/1795 will open the door to long-term buy. The first target to the upside is the $1830/1835 price zone, and the final target to the upside is the $1900 price zone. Let's see what happens.

This is neither signal nor advice. It is just a personal view. If t=ou think this analysis helps you, let's like comments and share.