Gold price hovers near all-time highs around $2,220. The short-term demand for the Gold price is extremely bullish as the 20-day Exponential Moving Average (EMA) at $2,137 is sloping higher vertically.
The Gold price is trading in unchartered territory but could face resistance near the 161.8% Fibonacci extension level at $2,250. The Fibonacci tool is plotted from December 4 high at $2,144.48 to December 13 low at $1,973.13. On the downside, December 4 high at $2,144.48 will be a major support for the Gold price bulls.
The 14-period Relative Strength Index (RSI) oscillates in the bullish range of 60.00-80.00, indicating more upside ahead
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