Analysis of Gold for September 17,.2020 - Strong downside pressure today and potential for the breakout of symmetrical triangle and bigger movemement to happen...

Monetary Policy Decision - 17 Sep 2020 Prior 0.10% Votes 0-0-9 vs 0-0-9 expected Asset purchase program total £745 billion vs £745 billion expected Bank of England says MPC had been briefed on the the BoE's plans to explore how a negative bank rate could be implemented effectively. (seen some GBP selling on that headline) Total stock of asset purchases to £745 billion around the turn of the year Market contacts had expressed concern over recent Brexit developments Outlook for economy looks unusually uncertain

Further Development

Analyzing the current trading chart of Gold, I found tthat there was the rejection of the upper trendline of symmetrical triangle and there is posibility for the breakout very soon to happen.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got VIX and Sugar today and on the bottom Platinum and Silver.

Key Levels:

Resistance: $1,975

Support level: $1,915