Gold consolidates near-daily highs, eyes $1900. Bullish crossover on the hourly chart keeps the buyers hopeful. The spot trades above all key averages, with a bullish RSI. Gold (XAU/USD) continues to probe the upper band of Thursday’s trading range so far, as the $1900 barrier remains in sight amid a favorable technical setup in the near-term. As observed in the hourly chart, gold sits comfortably above all the major hourly moving averages (HMA), as of writing. Gold Price Chart: Hourly The bullish crossover on the said time frame, with the 21-HMA having cut the 50-HMA from below, adds credence to the bullish momentum. Further, the Relative Strength Index (RSI) holds firmer well above the midline, currently at 62.90, suggesting that there is more room to the upside. The next relevant resistance is seen at the December 22 high of $1884 above which the $1900 level could be tested. Alternatively, the bullish bias remains intact so long as the price holds above the 200-HMA at $1866. Ahead of that the 50-HMA support at $1870 could come into play. 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 UAE’s Oil Minister: Gradual oil recovery expected in 2021, WTI battles $48 FX Street 2 years Gold consolidates near-daily highs, eyes $1900. Bullish crossover on the hourly chart keeps the buyers hopeful. The spot trades above all key averages, with a bullish RSI. Gold (XAU/USD) continues to probe the upper band of Thursday’s trading range so far, as the $1900 barrier remains in sight amid a favorable technical setup in the near-term. As observed in the hourly chart, gold sits comfortably above all the major hourly moving averages (HMA), as of writing. Gold Price Chart: Hourly The bullish crossover on the said time frame, with the 21-HMA having cut the 50-HMA from below, adds credence to the… Regulated 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.
