Gold price touches the channel’s support – Analysis - 23-12-2020

Gold price’s decline stopped at  the bullish channel’s support line that appears on the chart, and begins providing positive trades in attempt to move away from this support, motivated by the positive signal provided by stochastic, which makes us suggest witnessing more rise today, waiting to test 1875.00 level initially, noting that breaching thisl level will push the price to 1914.00 as a next positive target.

On the other hand, we should note that breaking 1858.00 will stop the expected rise and press on the price to suffer new losses and head towards 1819.00 followed by 1800.00 areas as main negative stations.

The expected trading range for today is between 1850.00 support and 1885.00 resistance.

The expected trend for today: Bullish