Will gold price go up in 2020? Prices Form Doji Day but Trend Remains Positive

Will gold price go up in 2020?  Prices Form Doji Day but Trend Remains Positive

Will gold price go up in 2020?  Prices Form Doji Day but Trend Remains Positive

 
Will gold price go up in 2020? Gold prices formed a doji day, nearly unchanged despite a surge in the Euro versus the US dollar. The dollar continued to weaken as US short-term yields moved lower, ahead of a holiday-shortened week Gold prices have rallied into the end of the week, as hedge funds continue to purchase gold

Gold prices consolidated on Friday forming a doji day which is where the open and the close are at the same level. This is a sign of indecision. Prices are poised to test the November highs at 1,516. Support is seen near the 10-day moving average near 1,488
Will gold price go up in 2020? Additional support is seen near the 50-day moving average at 1,477. The 10-day moving average crossed above the 50-day moving average which shows that a short term up trend is now in place. Short term momentum continues to accelerate higher as the fast stochastic recently generated a crossover buy signal

 Will gold price go up in 2020? The only caveat is that the fast stochastic is printing a reading of 96, well above the overbought trigger level of 80, which could foreshadow a correction

The RSI (relative strength index) is now printing a reading of 71, which is above the overbought trigger level of 70, and also points to a potential future correction

 Will gold price go up in 2020? Medium-term momentum is positive as the MACD histogram prints in the black with an upward sloping trajectory which points to higher prices. MACD line generated a crossover buy signal at the beginning of December and continues to reflect positive momentum