Gold analysis on dated 24-12-2020

Gold is trading above the level of $ 1875.00 per 1 troy ounce on the weaker dollar and its further decline. Continued demand for company shares, as well as large-scale incentives in the US, which put pressure on the dollar, which stimulates the growth of the price of gold.

Technical side: The price is located above the middle Bollinger band, above SMA 5 and SMA 14. The moving averages have crossed giving a buy signal. RSI is above the 50% level and is growing weakly. Stochestics are entering the over bought zone.

Trading recommendations: If the price fixes above 1875.00, this may stimulate its further growth to 1900.00.

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