Gold has been on a positive trend since early November and is recovering to a record high for the period (up 10%) to 1786.5 Last week there were rumors of further positive dynamics for gold in the fundamental sector.
The daily chart The Super Guppy shows gold moving into a neutral phase. The market change to a dominant bullish rally may occur after the price breaks the resistance of 1800. MACD indicates a strong bullish factor Daily RSI is above the 60 line - buyers are showing their strength
On the hourly chart the price is squeezed in a range. From the resistance the price is trying to get to the support zone, on Friday after the fall, by the evening the price was bought out. I think the price might continue to trade between 1765 and 1727 for a while I think that the priority at the moment is for the buyers, so it is worth paying attention to the key zones for buying: 1) price channel support (support zone) 2) Breakdown of resistance at 1765.
For sales the condition is one - a breakdown of channel support. A downside break-down and a break-down of 1727 will open the way for the bears to 1665.
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