Gold analysis on dated 18-12-2020

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Gold price confirmed the breach of 1875.00 after closing the daily candlestick above it, which supports the continuation of the bullish trend scenario in the intraday and short term,

 

which is organized inside the bullish channel that appears in the image, waiting for a positive stimulus that will push the price to achieve our next targets that extend to 1917.00 and then 1928.60.

 

The SMA 50 continues to support the suggested bullish wave, keeping in mind that breaking 1875.00 will pressure the price to test 1843.40 areas before any new attempt to rise.

 

The expected trading range for today is between 1850.00 support and 1920.00 resistance.

The expected general trend for today: Bullish