Gold looks bullish for a rise towards 1870.00

15 December 2020

Gold has been trading near the $1,820-10 range since the past few trading sessions and seems to have established a base near this level, further the commodity has rebounded sharply and is trading above the 20-day SMA. RSI is also rising indicating further upside potential, short term charts are also signifying the near term trend to be positive for the safe heaven commodity. Gold could rise towards 1860.00 and 1870.00 while it sustains above 1820.00.

Prepared by
Technical Analysis Team

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