FX.co ★ Analysis of Gold for September 16,.2020 - Watch for the breakout of well defined symmetrical triangle to confirm further direction

• Retail sales control group -0.1% vs. +0.3% estimate
• Retail sales ex auto +0.7% vs. 1.0% estimate
• Retail sales ex auto and gas +0.7% vs. 0.9% estimate
• ex auto and building materials 0.5% vs. 1.7%
• ex food services +0.1% vs. 0.5%

• gasoline sales +0.4% vs. July is up 4.4%
• cars/parts sales +0.2% vs. July's -1.0%
• food and beverages -1.2% vs. +0.6%
• furniture +2.1% vs. +0.9%
• sporting-goods -5.7% vs. -5.3% last month
• Gen. merchandise -0.4% vs. -1.1% last month. Department store sales fell -2.3% vs. 2.0% last month
• eating and drinking increased to 4.7% vs. 4.1% last month

Further Development

Analyzing the current trading chart of Gold, I found that the price is still inside of the trading range and that is awaiting for the breakout.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got VIX and Crude Oil today and on the bottom Lumber and Coffee.

Key Levels:

Resistance: $1,973

Support levels: $1,863 and $1,818.