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.
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
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.
Resistance levels: $1,931 and $1,954
Support level: $1,910
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