Analysis of Gold for October 13,.2020 – Completed downside correction (bull flag pattern) and potential for rise towards

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Analysis of Gold for October 13,.2020 - Completed downside correction (bull flag pattern) and potential for rise towards

Analysis of Gold for October 13,.2020 – Completed downside correction (bull flag pattern) and potential for rise towards

He reinforces that there is ‘strong’ EU unity ahead of the European Council meeting later this week and that they will continue to work for a fair Brexit deal in the coming ‘days and weeks’. I think the mention of ‘weeks’ says a lot about what they are expecting.

Analysis of Gold for October 13,.2020 - Completed downside correction (bull flag pattern) and potential for rise towards

Further Development

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Analyzing the current trading chart of Gold, I found that there is completion of the downward correction (bull flag pattern), which is good indication for the further rise on the Gold.

1-Day relative strength performance Finviz

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Based on the graph above I found that on the top of the list we got Ethanol and Crude Oil today and on the bottom Lumber and Natural Gas.

Key Levels:

Resistance levels: $1,931 and $1,954

Support level: $1,910

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.mt5.com/forex_analysis/quickview/191316/