FX.co ★ Analysis of Gold for September 11,.2020 - Potential completion of the ABC upside correction. Watch for the downside cycle...

China is said to have notified the US of measures against its diplomats in the mainland and in Hong Kong, with the retaliatory move coming in relation to US' own limits on Chinese diplomats at the start of the month.

Yeah, I'm not sure 'unspecified countermeasures' is what is going to be the straw that breaks the camel's back. Carry on as you will.

As I discussed in the previous review, the Gold managed to complete the upside correction ABC and I do expect another down cycle.

Further Development

Analyzing the current trading chart of Gold, I found that there is potential for the downside roattion towards the supports at $1,920 and $1,906.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Lean Hogs and Orange Juice today and on the bottom VIX and Rough Rice.

Key Levels:

Resistance: $1,963

Support levels: $1,920 and $1,906.