Analysis of Gold for December 08,.2020 - Outside bar on yesterday's close and potential for further test of $1.895

Brexit: There is reportedly still no firm decision on when Boris Johnson will be heading to Brussels The Daily Telegraph's political editor, Gordon Rayner, updates on the situation Still no decision on when Boris Johnson will go to Brussels. Tomorrow is still possible, UK sources are saying, but EU sources saying there hasn't been a discussion yet with No10 over which day it will be.

Just be reminded that the EU has now put a "deadline" for tomorrow but again, as much as one would believe that will be where they draw the line, it is easy to imagine further political posturing until we get to the transition period "deadline" of 31 December.

For the pound, it will come down to how much buyers can tolerate all the shenanigans in the meantime.

Further Development

Analyzing the current trading chart of Gold, I found that there is the bullish outisde candle yesterday, which is good sign that buyers are strong.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Ethanol and Lumber today and on the bottom Lean Hogs and Palladium.

Gold is slightly positive today.

Key Levels:

Resistance:$1,895

Support level: $1,848