Gold quotes are traded at the level of 1783.74. Gold moves above the level of moving media with a period of 55. This indicates the presence of bearish for Gold. At the moment, gold quotes are moving near the upper limit of the Bollinger Bands indicator bands.
GOLD forecast and XAU/USD analysis on December 9, 2021
As part of the gold forecast, the test level is expected 1795.20. Where to expect an attempt to continue the fall of gold and the further development of the downward trend. The purpose of such a movement is the area near the level of 1750.80. A conservative area for sales is located near the upper boundary of the Bollinger Bands indicator strips at 1795.40.
Cancellation of the continuation of the fall of gold will become a breakdown area of the top border of the Bollinger Bands indicator stripes. And also a moving average with a period of 55 and the closure of gold quotes above region 1806.50. This will indicate a change in the current tendency in favor of bullish gold. In the event of a breakdown of the lower boundary, the Bollinger Bands indicator strips should expect drop acceleration.
GOLD forecast and XAU/USD analysis on December 9, 2021 implies a test of the level of 1795.20. The following is expected to continue the fall in the area below the level of 1750.80. The conservative zone of sale is located near the region 1795.40. Cancellation of the fall of gold will perform a breakdown of 1806.50. In this case, it is worth expecting a continuation of growth.
