FX.co ★ Analysis of Gold for October 21,.2020 - Upside breakout of the ascending triangle and potential for test of $1.930

• Government pursuing a local and regional approach to restrictions
• Tier 3 restrictions will be lifted if 'R' falls below 1
• But other factors are also taken into account, like hospital admissions
• Tier 3 decisions will be reviewed every 28 days

Johnson is being questioned heavily on this as Greater Manchester and South Yorkshire are the latest to get pushed into Tier 3 restrictions. The headline remark is more to defend his decision to introduce this 'traffic light' system, so take it with a pinch of salt.

Further Development

Analyzing the current trading chart of Gold, I found that buyers are in control today and that there is chance for further upside continuation.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got VIX and Natural Gas today and on the bottom Lumber and Lean Hogs.

Gold is holding well and it positive on the 1day relative base...

Key Levels:

Resistance: $1,930 and $1,955

Support level: $1,913