Gold Technical analysis on dated 21-12-2020

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Gold Technical analysis

Gold price opens today’s trading with a strong positive, to start testing the 1900.00 barrier, reinforcing expectations for the continuation of the main bullish trend, noting that we are awaiting further rise to visit 1912.50 then 1928.60 as next positive targets as Gold Technical analysis .

 

Thus, the bullish trend scenario will remain valid and effective for the upcoming period, supported by the positivity of the stochastic oscillator and the SMA 50, bearing in mind that the continuation of the bullish wave depends on stability above 1875.00. As follows Gold Technical analysis :

  • The expected trading range for today is between 1880.00 support and 1928.00 resistance.
  • The expected general trend for today: Bullish

Gold, represented in financial markets as XAUUSD, holds a unique and enduring allure as one of the most precious metals in the world. Beyond its intrinsic beauty and historical significance, gold has served as a universal symbol of wealth and stability. In the realm of finance, XAUUSD is a widely traded commodity, often considered a safe-haven asset during times of economic uncertainty. Investors turn to gold as a store of value, seeking refuge from market volatility and currency fluctuations.

Its scarcity, coupled with a long-established cultural and economic role, contributes to its resilience as a sought-after investment. The price dynamics of XAU/USD are influenced by various factors, including geopolitical events, inflation rates, and central bank policies. As global economic conditions evolve, gold remains a barometer of market sentiment, reflecting both confidence and apprehension. Whether adorned as jewelry or traded on financial markets, gold continues to stand the test of time as a symbol of wealth, a hedge against uncertainty, and a fascinating element in the intricate tapestry of human history and finance.

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