Gold technical analysis

16 Dec 2019 02:21 PM

Gold is currently moving in a narrow ascending channel, and we expect to target a maximum of 1485-1487 levels, which is an area where the resistance of the upper bound of the narrow upward channel and the upper bound of the large downside channel in which gold is moving within.

We expect it to decline from the levels mentioned or before to target the level of 1463 dollars, and the declines will continue if the 1458 support level is targeted to target 1450 levels and then 1430 dollars.

In the event of the rise and stability of the highest levels of 1490, our view changes to the rise of the levels of 1520 - 1550.