FX.co ★ Analysis of Gold for December 02,.2020 - Watch for the buying opportunities on the pullbacks for potential test of $1.850

More hints from Lane that the re-calibration will focus on those programs

• Important not to infer that ECB only looking at PEPP and TLTRO
• Says not growing more worried about inflation tdue to recent negative readings, big drops this year will partly reverse
• Vaccine reduces chance of more severe economic scenario
• Aims to keep financing conditions "where they are these days"

Further Development

Analyzing the current trading chart of Gold, I found that the buyers are in control today on the Gold market and that there is still chance for upside movement towards $1,850 (strong pivot level)

My advice is to watch for buying opportunities on the dips with potential upside target at the price of $1,850.

Stochastic oscillator on the 4H time-frame is overbought and you should probably wait for the correction and then buying opportunities...

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Natural Gas and Platinum today and on the bottom Ethanol and Cocoa.

Key Levels:

Resistance: $1,850

Support levels: $1,816 and $1,765