The precious metal is on a general uptrend now that it broke the 50% Fibonacci Retracement line, this often indicates a trend reversal, but we need to wait if the breakout sticks. The pair could see a slight pullback in the short term, as it has happened since early October.
The Bollinger bands are opening up and moving up, indicating that the trend is upwards. The price trades closer to the upper band, but it still has some room to continue the rally before considering it relatively high.
The relative strength index is at 63%, another indicator that the uptrend is expected to continue in the short term. The price still has room to move up before considering it overbought. The minor retracements we see from the past are helping the precious metal stay in a safe zone.
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