Gold price is looking to extend Friday’s rebound above the $1,800 mark as bulls retain control at the start of a new week, FXStreet’s Dhwani Mehta reports.

200DMA could restrict any pullbacks

“The immediate upside hurdle is placed at the $1,800 level, above which the December 15 high at $1,809 will be tested again. Acceptance above the latter could trigger a fresh upswing toward the multi-month high of $1,824.”

“On the flip side, a daily closing below the 200-Daily Moving Average (DMA) at $1,786 could challenge bullish commitments at the ascending 21DMA at $1,775. A decisive close below the 21DMA support will negate the ongoing upside momentum.”