FX.co ★ Analysis of Gold for October 05,.2020 - ABC completion on the 4H time-frame and potential for the further upside movement

• Outbreak seems more localised this time than it was in March, April
• Working hard to get a vaccine
• We feel they must be on the verge of getting one

Johnson trying to ease concerns and continuing to defend the strategies the government has employed in curbing the spread of the virus. The numbers pretty much speak for itself but stuff like thisertainly doesn't lend much confidence to the public either.

As I discussed in the previous review, the Gold managed to complete the downside correction ABC major, which can open the room for the another upside swing.

Further Development

Analyzing the current trading chart of Gold, I found that the buyers are in control today and there is potential for the higher prices.

My advce is to watch for buying opportunities on the intraday pullbacks with the upside targets at $1,916, $1,932 and $1,953

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Natural Gas and Crude Oril today and on the bottom Lumber and Orange Juice

Key Levels:

Resistance: $1,915

Support level: $1,89