Gold analysis on dated 17-12-2020

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Gold price trading rebounded strongly after retesting the 1850.00 level yesterday, to gradually approach our first expected positive target at 1875.00, and the price moves within the bullish intraday channel that appears on the image,

 

which supports the chances of surpassing the aforementioned level to achieve more positive targets that extend to 1902.00 Then 1928.60.

 

Therefore, we will continue suggesting the bullish trend for the upcoming period, provided that the price maintains its stability above 1856.00 and most importantly above 1833.00.

The expected trading range for today is between 1850.00 support and 1890.00 resistance

The expected general trend for today: Bullish