Simplified wave analysis GOLD for the week of December 7

Large scale graphics:

This year, the main vector of the price movement of gold sets the downward trend. The wave is not complete. In the recent months, the oncoming wave of correction has been developing in its framework.


The estimated completion area is in the potential large-scale reversal zone.


Forecast and recommendations:

In the coming weeks, supporters of short-term deals can take advantage of the expected continuity of the price growth. In the area of resistance, it is recommended to change the trading strategy and look for reversal signals.

Resistance zones:

- 1260.0 / 1265.0

Support areas:

- 1230.0 / 1225.0


The material has been provided by InstaForex Company -