FX.co ★ Analysis of Gold for October 01,.2020 - The gold is getting closer to the key pivot level at $1.905, watch carefully for the price action around it....

Officials with knowledge of the talks say a landing zone on state aid has been identified but "fishing is the last sticking point. We both have to jump together." The mood in Whitehall as "cautiously optimistic" but insiders warn "it's going to go to the brink."

And back up the pound goes, with cable rising from 1.2840 levels to 1.2900 currently. An earlier report by Reuters mentioned that state aid was one of the key sticking points but it appears that there might be room for a compromise based on the latest update here.

Further Development

Analyzing the current trading chart of Gold , I would carefully watch for the price action around the key pivot level at $1,905

The upside breakout of the pivot at $1,905 might lead Gold for test of $1,955

The bigger rejection of the pivot at $1,905 might lead Gold for test of $1,848

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Orange Juice and Natural gas today and on the bottom Cocoa and VIX.

Gold is on the positive territory on the list...

Key Levels:

Resistance: $1,905

Support level: $1,847