FX.co ★ Analysis of Gold for January 04,.2021 - Targets reached and potential for bigger rise towards $1.960

Prior 97.5k

• Net consumer credit -£1.5 billion vs -£1.3 billion expected
• Prior -£0.6 billion

Slight delay in the release by the source. There's no signs of slowing down in the UK housing market as mortgage approvals jump further in November, with house purchases being the highest since August 2007.

However, consumer credit continue to reflect more subdued conditions with the annual change in consumer credit growth falling further to -6.7% from -5.5% (revised) last month.

Further Development

Analyzing the current trading chart of Gold, I found that Gold reached both upside targets from last week at $1,895 and $1,910.

Anyway, dude to strong upside trend, our advice is still to watch for buying opportunities with potential for the test of the major swing high at $1,960.

1-Day relative strength performance Finviz

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

Gold is one of the strongest symbols today...

Key Levels:

Resistance: $1,959

Support levels: $1,950