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02.12.202016:36 Forex Analysis & Reviews: Analysis of Gold for December 02,.2020 - Watch for the buying opportunities on the pullbacks for potential test of $1.850

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ECB's Lane: PEPP and TLTRO programs very good match for pandemic conditions

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

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