Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Gold: trade the tactical levels
2020-12-23 • Updated
Gold is down to $1 860 this week. That’s a retrace downwards from the upward march to $1 900 it did recently. Technically, looks very likely that this all fall well into the wavy uptrend as marked on the H4 chart below. If the trend continues, the gold price may reach $1 960 by the end of January – under the assumption that the current march keeps going upwards at the same pace. Reaching $1 900 and crossing it in about two weeks would be a good indicator to confirm that assumption. Therefore, let’s watch this resistance of $1 900 – it has tactical importance now.
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