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Gold (XAUUSD) Price May Extend Gains to $1,935

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Further boost in the bulls energy pushed the price to penetrate the $1,901 degree, then, the resistance quantities of $1,935 may be reached. Just in case the $1,901 level holds, the price might reverse and face the support levels at $1,850, $1,811, and $1,778.

XAUUSD movement that is long-lasting
Gold is bullish in the chart that is daily; the rare metal ended up being beneath the control regarding the bears for a lot of times. The momentum that is bearish the cost at the $1,778 support level. The bullish candle that is engulfing plus the price increase to split up the $1,811 and $1,850 cost level silver price is targeting the resistance degree of $1,901 at the moment.

Gold chart that is day-to-day December 19
The silver cost has penetrated the EMA that is fast-moving durations EMA) and slow-moving averages EMA (21 durations EMA) upside and it is dealing over the two. Further increase in the bulls energy that is push the price to penetrate the $1,901 degree, then, the resistance degrees of $1,935 can be reached. In the event the $1,901 level holds, the purchase price might reverse and face the support amounts at $1,850, $1,811, and $1,778.

XAUUSD Medium-term Trend: Bullish
The bulls take over the silver market; in other words, the rare metal is bullish in the 4 hour chart that is. The bears were pushing the price down towards the support degree of $1811 week that is last. The mark could never be reached prior to the bulls interrupted the bears. The price turns and breaks up the resistance level of $1850. The price is going towards the opposition degree of $1901.

Gold 4 hour chart, 19 december
The cost has penetrated the two EMA upside, which means, Gold is exchanging over the 9 periods EMA and 21 periods EMA as an indicator of the movement that is bullish the Gold market. The power that is relative is bending down at 60 amounts to indicate a sell sign which may be a pullback. Placing buy Stop at $1,895.04, Stop Loss at $1,869.97, and simply take revenue at $1,929.69 would have been a suggestion that is will. Further boost in the bulls energy pushed the price.

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Billy Houghton

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