Source: economies.com
Gold price is reported at around $1,866. The gold price touched the support line and it is expected the the gold began to rise and tried to stay away from this support. Besides that, the stochastic indicator is on the oversold area, send a positive signal to gold price which predict that it will rise further today.
Traders are currently waiting for gold price to test at $1,875. If it break above this level, it will push the gold price to the next target level of $1,914.
Analyst pointed out that once the gold price move downwards below $1,858, the gold price will suffer to a new downward trend and fall to the main bearish target of 1,819. Analyst expected that today's trend of gold prices is bullish. Gold price will be trading between the support level of $1,850 and the resistance level of $1,885.
FOLLOWME XAU/USD Overall Sentiment (As of 05:30 p.m, Dec 23, 2020),
Short - 51.31%
Long - 48.69%
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