Gold is facing bullish pressure, potential for a further rise

16 בדצמ׳ 2020

We caught the bullish move upwards towards our first resistance level at 1875.34, which is in line with our 50% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing high resistance. We remain bullish above our first support level at 1817.72. It is worth noting that the price is now above EMA (55) and the Ichimoku cloud, which shows that the price is still facing strong bullish pressure in line with our analysis.

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