We are post federal reserve meeting and it appears that investors are apprehensive due to the hawkish tone the chairman Jermone Powell gave, however I believe that as gold has been accummulating since may and the 1753 major support has been touched now we will see at least a short bullish run.
As you can see on my chart price touched the 1753 support and on the 4 hour chart a bullish close above the resistance of 1772.9. if price closes above 1786 level then I believe we will see a short run until 1815 where price touched before in november. This is all if inflation continues to grow and the hawkish tone continues from the federal reserve as a result to the inflation numbers which will cause a increase for the need of Gold.
Be careful trading though! December is one of those months that things can be uncertain and ranging prices evident.
As you can see on my chart price touched the 1753 support and on the 4 hour chart a bullish close above the resistance of 1772.9. if price closes above 1786 level then I believe we will see a short run until 1815 where price touched before in november. This is all if inflation continues to grow and the hawkish tone continues from the federal reserve as a result to the inflation numbers which will cause a increase for the need of Gold.
Be careful trading though! December is one of those months that things can be uncertain and ranging prices evident.