GOLD technical analysis 03-12-2020

Gold is trading one the spot showing recovery amid the risk of a collapse in stock indexes, which significantly increased in November and are experiencing problems now with growth due to the coronavirus pandemic, uncertainty about vaccination beginning for Western countries, as well as expectations of new stimulus measures in America, which weaken the dollar.

Technical side:
The price is located above the middle line of the Bollinger band, above SMA 5 and SMA 14. RSI is under the overbought zone and is growing smoothly. Stoch are also in this zone, but uninformative.

Trading recommendations:
Buy gold with a possible further growth by 1875.000