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Daily GOLD Forecast – 18.12.2023

The market descends from resistance, unable to establish new highs around the critical 2050 level. Following bearish momentum and the formation of a double top, the market retreated. Anticipating a downward trajectory as a 3-bar reversal pattern emerged on the daily timeframe, indicating potential continued downside movement. The resistance at 2035, where the price experienced a decline, presents an opportune area for selling. My objective is the support level approximately at 1991.