Gold Spot technical analysis 09.12.2019

Gold is still trading flat, remaining hostage to the US-China trade negotiations. The market behavior isn’t likely to change until December 15th, when China and the US will either impose new tariffs or postpone them once again.

The price is below the middle Bollinger bands, above SMA, but below SMA 14. RSI is below 50% and is growing weakly. Stoch are in the oversold zone and indicate a likely reversal of the price.

Trading recommendations: 

Sell gold either as it's growing  from the level of 1464.50, or after its decline below 1456.00 with local goals of 1451.20 and 1440.00.