Technical Analysis (Gold) : XAU/USD 7 December 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 7 December 2020

Pivot point : 1848.00

Our preference : short positions below 1848.00 with targets at 1829.00 & 1823.00 in extension.

Alternative scenario : above 1848.00 look for further upside with 1855.00 & 1861.00 as targets.

Comment : as long as 1848.00 is resistance, look for choppy price action with a bearish bias.

Supports and resistances :

1861.00 **
1855.00 *
1848.00
1841.80 – Last price
1829.00
1823.00 *
1813.00 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

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