Gold is facing bullish pressure, potential for further upside

٤ يناير ٢٠٢١

Price is approaching our first support, in line with our 23.6% Fibonacci retracement and 61.8% Fibonacci extension. We could see a potential bounce and further rise up to our first resistance at 1938.74. It is worth noting that the price is still holding above the Ichimoku cloud in line with our bullish bias.