Gold has finished the year just shy under 1900 important confluence resistance with the price ranging between 1870 and 1900 in the last days of 2020. From the 1765 low Gold is bullish, putting in higher lows on our chart and I expect a break above 1900 in the first days of 2021. My strategy is to buy dips above 1870 and the medium-term target can be 1970 zone. Interim support is found at 1925.
Gold (XAUUSD) Price; A Possible Bullish Breakout at Resistance Level of $1,900Gold (XAUUSD) Price; A Possible Bullish Breakout at Resistance Level of $1,900
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XAUUSD Long-term Trend: Bullish
Gold is bullish on the long-term outlook. Gold continues on its bullish movement on the daily chart. The bulls’ momentum is a bit low, so there is no aggressive movement last week as expected by most traders. Nevertheless, the resistance level of $1,900 was retested and the price is attempting the breakup of the mentioned level.