Gold is off weekly tops but holds gains above $1930. Overbought conditions on the 4H chart warrant caution for the bulls. $1940 and $1950 still remain on the buyers’ radars. Gold (XAU/USD) holds the higher ground near eight-day tops of $1935, as the bulls gather pace for the next push to the upside. As observed in the four-hour chart, gold confirmed a symmetrical triangle breakout on the final trading day of the year 2020. Gold Price Chart: Four-hour The bulls built onto Thursday’s upside break, extending the upbeat momentum into the first trading day of 2021. The precious metal has rallied as much as $20 so far, with room for additional upside despite the Relative Strength Index (RSI) trending in the overbought zone, at the momentum. The measured pattern target is aligned at $1940, above which the $1950 psychological barrier could come into the picture. Alternatively, the confluence of the 21-simple moving average (SMA) and pattern resistance at $1893 will act as strong support. The next relevant downside barrier is seen at $1883, the intersection of the 50-SMA and pattern support. Gold Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Ethereum shows muscle, razes levels massively FX Street 11 months Gold is off weekly tops but holds gains above $1930. Overbought conditions on the 4H chart warrant caution for the bulls. $1940 and $1950 still remain on the buyers’ radars. Gold (XAU/USD) holds the higher ground near eight-day tops of $1935, as the bulls gather pace for the next push to the upside. As observed in the four-hour chart, gold confirmed a symmetrical triangle breakout on the final trading day of the year 2020. Gold Price Chart: Four-hour The bulls built onto Thursday’s upside break, extending the upbeat momentum into the first trading day of 2021. The precious metal… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
