Where Did You Gold? - Gold Price Begins Positively, May Potentially Rise To $1,903.
Illustration photo of Gold Price H4 Chart from Economies.com
In the early European market, the gold price maintained its upward trend and still trading at around $1,880 per ounce.
Today, the new rise has moved away from the support line of the bullish channel, enhancing expectations of a bullish trend. As cited by Economies.com, we can expect the price to test the $1,903.50 level, which is the first positive target. If the gold price breaks through this area, there is a chance to reach the level of $1,928.60.
Therefore, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50 that keeps carrying the price from below, noting that it is important to hold above $1,875.00 to continue the expected rise.
In addition, it is likely to linger between the range of $1,870 (support) and $1,905(resistance) today.
FOLLOWME XAU/USD Overall Sentiment (As of 10:40 a.m., Dec 30, 2020),
Short - 49.61%
Long - 50.39%
Source: Economies.com
Edited 30 Dec 2020, 18:05
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