Analysis of Gold for October 15,.2020 – Potential end ot the downside correction. Upside movement is in play towards the

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Analysis of Gold for October 15,.2020 - Potential end ot the downside correction. Upside movement is in play towards the

Analysis of Gold for October 15,.2020 – Potential end ot the downside correction. Upside movement is in play towards the

  • HICP 0.0% vs 0.0% y/y prelim
  • HICP -0.6% vs -0.6% m/m prelim

A slight revision lower in headline annual inflation is the only change relative to the initial report, but it doesn’t tell us anything new.

Inflation pressures are subdued in September across the region and that continues to keep the ECB on their toes as the threat of deflation starts to creep in ahead of the year-end.

Further Development

Analysis of Gold for October 15,.2020 - Potential end ot the downside correction. Upside movement is in play towards the

Analyzing the current trading chart of Gold, I found that there is successful rejection of the rising trendline and potential running flat downside correction completion.

1-Day relative strength performance Finviz

analytics5f88455c13be4.jpg

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

Key Levels:

Resistance: $1,912 and $1,930

Support level: $1,890

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

Source : https://www.mt5.com/forex_analysis/quickview/191663/