Gold is consolidating below the level of 1620.00 in anticipation of the publication of data on employment in the United States. In general quotations "yellow" metal to the end of March moving sideways 1570.55-1641.00 against high degree of uncertainty about prospects for the world economy in the wake of the coronavirus pandemic. We expect that in general this pattern will continue in the foreseeable future.
Technical picture Gold:
Gold price is above the midline indicator Bollinger, SMA below 5 but above SMA 14. RSI RSI above the level of 50% and gradually decreases. Stoch turned down.
Recommendations for Gold Trade:
In our opinion, the price of gold may be in this situation, how to grow and fall because of volatile trading due to the uncertainty of a pandemic. For the growth it needs to overcome the mark of 1620.00. In this case, she will grow up to 1641.00. At the same time decline below 1605.00 will result in the resumption of the fall of the price to 1570.55.
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Analytics Grand Capital
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FOREX FORECAST → Gold Spot 6/12/19 analysis forecast recommendation
FOREX FORECAST → GOLD GOLD Spot forecast analyst recommendations 30/12/2019