Bullion remains sideways as the US dollar attempts to claw back losses near year’s end. On the daily chart, the price has been inching up along the 20-day moving average. A rising trend line from early November also offers support to the price action on the hourly time frame. A pop above the recent double top (1823) indicates a strong bullish pressure, but a bounce off the congestion area (1795) formed by the trend line and the base of the bullish breakout is key in keeping the rally going, with 1850 as the next target.
