Gold price begins positively – Analysis - 30-12-2020

Gold price opens today’s trading with new rise to move away from the bullish channel’s support line, reinforcing the expectations of continuing the main bullish trend, waiting to test 1903.50 that represents our first positive target, which breaching it represents the key to rally towards 1928.60 as a next station.

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 1875.00 to continue the expected rise.

The expected trading range for today is between 1870.00 support and 1905.00 resistance.

The expected trend for today: Bullish