The precious metal has managed to gain 3.5% in the last four trading sessions; while doing so, it broke three Fibonacci retracement levels at 61.8%, 50%, and 38.2%, meaning that the general trend is now upwards.
The Bollinger bands are wide, and the price is trading above the upper band, suggesting that the price is relatively high; the pair is finding resistance at $1,834, a previous high that has not been broken since mid-July.
The relative strength index is at 61%, which is not overbought yet; we could see the price breaking the resistance in the short term as the pair gathers the necessary strength to do so. We recently had a golden cross at the end of October; investors started placing long positions and could start closing with profits soon, which will bring the price down for the short term.
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