Gold analysis for 20.12.2017

If the US dollar stays weak, Gold will continue its bullish trend. The support rests at 1261.50 with resistance at 1268.50 which both lines are above the weekly pivot point at 1253.43. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend. Long positions are recommended towards 1275. https://fxglory.com/gold-analysis-for-20-12-2017/